GoTo mulls options to raise capital amid expected selloff once IPO lock-up ends

GoTo mulls options to raise capital amid expected selloff once IPO lock-up ends

Photo: GoTo website

Indonesia-listed tech major GoTo is said to be working on multiple options, including a convertible bond issue, private placement, and an initial public offering (IPO) in the US market, as it seeks to raise fresh capital, according to sources familiar with the matter.

The need to accelerate its fundraising efforts comes as it stares at a limited runway and anticipates a significant stake selloff once the IPO lock-up period ends next month, according to several sources familiar with the matter. An IPO lock-up prevents early investors and company insiders from selling their stake for a certain time period after the public offering.

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