Indonesia's GoTo looks to shore up price ahead of mega-IPO

Jakarta

AS INDONESIA'S GoTo Group gets ready for a listing that could value the start-up at over US$28 billion, it is hoping to avoid the pitfalls of an earlier much-heralded tech player that recently went public by securing early investors, market analysts told The Business Times.

GIC-backed Bukalapak, the country's first e-commerce player to list, saw its initial public offering (IPO) price surge 25 per cent at the start of trading.