Indonesia’s GoTo, which detailed plans for a local public listing on Tuesday, has chosen to be conservative about the valuation of the listed entity, as other technology peers are seeing their plus-size valuations being cut to size by the market.
GoTo – formed from the merger of homegrown unicorns Gojek and Tokopedia last year – plans to list on the Indonesia Stock Exchange (IDX) on April 4. It plans to raise $1.3-1.4 billion, implying a valuation of $26.4-28.9 billion depending on where it is priced.
