<article><p>GoTo has extended the book building period for its IPO by three days, allowing more merchants and customers to join. Meanwhile, another Indonesian e-commerce giant Bukalapak announced a new country manager in Korea.</p></article>

<p>GoTo has extended the book building period for its IPO by three days, allowing more merchants and customers to join. Meanwhile, another Indonesian e-commerce giant Bukalapak announced a new country manager in Korea.</p>
<h3>GoTo extends book-building period</h3>
<p>IPO-bound GoTo has extended its book-building period by three days to allow more merchants and customers to join its initial public offering (IPO), an executive said in a statement on Monday.</p>
<p>Book building, the process to collect bids from investors for an efficient IPO price discovery, should have ended on Monday but it is extended until March 24. With this, the IPO is targeted to be in the first week of April 2022.</p>
<p>&#8220;There has been a great response from consumers and merchants who have received a fixed allocation through the Gotong Royong Share Program,&#8221; Koesoemohadiani, GoTo corporate secretary, said. &#8220;We aim to ensure that everyone who wants to participate has enough time to do so.&#8221;</p>
<p>Under the Gotong Royong Share Program, all full-time employees and some driver-partners are given GoTo shares while merchants and consumers are eligible to purchase shares via a fixed allocation at IPO.</p>
<p>Indonesia&#8217;s GoTo, formed from the merger of Gojek and Tokopedia, is targeting about $1.25 billion in an IPO on the Indonesia Stock Exchange. Proceeds from the IPO will be used for working capital and to support the group&#8217;s growth strategy.</p>
<h3><span style="font-size: 18.72px;">Bukalapak seeks Korean opportunities</span></h3>
<p><span style="font-size: 16px;">Bukalapak has named Juhee Kim as its new Korea country manager to oversee strategic partnerships, and M&amp;A, according to her LinkedIn post on Tuesday.</span></p>
<p>&#8220;Our main business area is to support market development in Southeast Asia through domestic brands acquisitions and we plan to create new business opportunities through joint ventures,&#8221; Kim said in her post.</p>
<p>Kim has previously worked for companies such as NAVER, Oracle, and Dell.</p>
<p>Bukalapak, however, is not expanding its business to Korea. According to Bukalapak head of media and communication Fairuza Ahmad Iqbal, its new country manager is tasked to learn local trends and innovations to be adopted within the company.</p>
<p>&#8220;Basically, we always monitor the trend and technology industry development around the world as our guide in developing all of our services and products,&#8221; he told DealStreetAsia.</p>


IPO-bound GoTo has extended its book-building period by three days to allow more merchants and customers to join its IPO.

Indonesia Digest: GoTo's new IPO date; Bukalapak's new Korea country manager

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Indonesia Digest: GoTo's new IPO date; Bukalapak's new Korea country manager

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