Indonesia’s GoTo closes in on $2b funding round, IPO may be delayed to 2022

Indonesia’s biggest tech group GoTo is set to complete a pre-IPO funding exercise to raise up to $2 billion in the next few weeks, but regulatory delays threaten to push its listing plans to early next year, three sources familiar with the matter said.

The delay comes as the southeast Asian nation’s Financial Services Authority (OJK) weighs new listing guidelines for tech firms to offer dual-class shares that confer different voting rights, said two of the sources.

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