Tech giant GoTo, which raised $1.1 billion through an IPO on the Indonesia Stock Exchange (IDX) in April, is planning to raise fresh capital from a new investor through a private placement of shares.
In a filing to the IDX on Friday, GoTo said it plans to issue 118.43 billion shares, representing a roughly 10% stake in the company, at an undecided price. Shares of the company closed at 304 rupiah apiece on Friday, which implies a 10% stake has a market value of 36 trillion rupiah ($2.45 billion).