JAKARTA (Reuters) – Indonesian biggest tech firm PT GoTo Gojek Tokopedia said on Wednesday evening that some of its pre-IPO shareholders had decided not to take up a secondary offering of shares at this time.
The shareholders were those who considered the proposed transaction, GoTo said in a statement without naming them.
Shares of GoTo closed down 6.79% on Wednesday to 151 rupiah a piece prior to the announcement.
Based on its IPO prospectus, the pre-IPO shareholders include among others GoTo Peopleverse Fund at 9.35%, SVF GT Subco (Singapore) at 9.02%, Taobao China Holding at 9.16%, PT Saham Anak Bangsa at 2.35% and Garibaldi Thohir, GoTo’s main commissioner, at 0.09%.
The announcement came as the eight-month lock-up period for pre-IPO shareholders expired on Wednesday.
GoTo, which raised $1.1 billion in an IPO last April, said in October that the purpose for a coordinated secondary offering of shares was to “facilitate an orderly sale through the negotiated market.”
(Reporting by Stefanno Sulaiman; Editing by Ed Davies)
