Ahead of merger with Dana, Tokopedia emerges as top shareholder in OVO

Ahead of merger with Dana, Tokopedia emerges as top shareholder in OVO

Photo: Ovo

There have been many speculations on the ownership of Indonesia’s fifth unicorn startup OVO ever since Lippo Group’s patriarch, Mochtar Riady, announced the divestment of a controlling stake in the fintech firm a year ago.

According to the latest corporate filings in Indonesia and Singapore unearthed by DealStreetAsia, Grab Inc’s holding in OVO’s parent Bumi Cakrawala Perkasa has dropped from 44.2 per cent to 39.2 per cent post a restructuring exercise in February this year to pave the entry of new shareholders – Wahana Innovasi Lestari and Ide Teknologi Indonesia – that control 5 per cent each in Bumi.

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