GoTo spends $14m to bump up stakes in a slew of subsidiaries

Photo: GoTo website

Indonesian tech giant PT GoTo Gojek Tokopedia Tbk, or GoTo, has been actively ramping up its investment in several entities over the past few weeks. The total investments add up to nearly 210 billion rupiah ($14.12 million), according to regulatory filings.

On June 17, the firm subscribed to 4,000 new shares of its fintech subsidiary PT Semangat Empat Lima (SEL) — through another wholly-owned subsidiary PT Semangat Bambu Runcing (SBR) — for 40 billion rupiah. Post-transaction, GoTo’s ownership in SEL increased to 99.99% from 99.98%.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter