After successfully raising $1.1 billion on the Indonesian Stock Exchange IDX last week, shares of Indonesian super-app, GoTo, soared by 23% on the company’s first day of trading on Monday April 11.
The performance gives a boost to the IDX and could help reinstate confidence in IPO markets, but it may be too soon to draw meaningful conclusions about GoTo’s long term performance.
“I think the IPO went very well, considering everything that’s happening both in the market and globally,” said Pandu Sjahrir, IDX commissioner, in an interaction with FinanceAsia.
“I think it also shows that a very large...
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