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Friday, May 3, 2024

Indonesia tech giant GoTo soars on market debut

This handout photo taken and released by Indonesian tech firm GoTo on Monday shows (from left) GoTo Group president Patrick Cao, co-founder William Tanuwijaya, group CEO Andre Soelistyo and co-founder Kevin Aluwi standing under a giant screen after the company’s initial public offering on the stock exchange in Jakarta. (AFP photo)

JAKARTA: Indonesia’s biggest tech firm soared in Jakarta trade Monday after a billion-dollar IPO that was the world’s fifth-biggest this year, defying recent heavy weather for Asian tech stocks.

GoTo, the largest digital ecosystem in the archipelago nation of 270 million people, was formed by the merger of ride-hailing company Gojek and e-commerce platform Tokopedia in May 2021.

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