There are a lot of IPO listing cases around the world.
This article takes listing sample from GoTo’s recent Initial Public Offering, the largest in Asia;
Indonesia’s Largest Public Listing Awareness
GoTo Group’s $1.2bn domestic IPO marks the largest IPO in the country. But it must be aware of technical listing issues. Too extravagant valuation could lead to the biggest flops. A banker analyzed that institutions or retail investors may find it less interesting and will not subscribe. This is because they are aware of the high chance of a sharp fall in listings.
The banker said friends and family will buy the listing. Like a flipping coin, the listing could benefit GoTo. A banker who has knowledge of GoTo transactions analyzed that GoTo will meet investment hungry demand. The company might attract institutional investors seeking long-term investment.
This is because such an opportunity is very rare in Indonesia.
In the country, listed technology stocks are very scarce. This will prompt investors to buy a company which plays a significant role in the country’s economy. GoTo can also enter the benchmark indices on account of large market capitalization and investors. It is basically hard to not get tempted by this biggest IPO, said a banker.
GoTo attempts to enter the domestic market first before planning to implement 10% listing shares in the U.S. The company has some years to improve the free float to 7.5% in the local exchange. Shareholders with multiple voting rights seem to be performing prospectus. Currently, GoTo’s Series B has 6.29% shares and 59.17% voting rights. These numbers will decrease after IPO. They will have 6.02% of the shares and 58.01% of the voting rights, calculated by IFR Asia.
Series B shares owners are Andre Soelistyo the co-founder and CEO, Kevin Bryan Aluwi co-founder and director, co-founder and commissioner William Tanuwijaya, and COO Melissa Siska Juminto. Corporate entity Saham Anak Bangsa is also the owner of series B shares. These people are subject to two-year lock-up.
