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Pre-IPO Investors Do Not Continue GOTO Offering Plans Related to Stock Lock Up

Pre-IPO Investors Do Not Continue GOTO Offering Plans Related to Stock Lock Up

Andrianus.my.id , Indonesia - Technology issuer PT GoTo Gojek Tokopedia Tbk. (GOTO) reports the results of the secondary offering or coordinated secondary offering of GOTO shares owned by pre-IPO stock investors not being continued ahead of the end of the lock up. 

GOTO Corporate Secretary RA Koesoemohadiani said that the pre-IPO shareholders who were considering the proposed transaction had decided not to proceed with the secondary offering plan. 

"Pre- IPO shareholders who are considering the proposed transaction have now decided not to proceed with the coordinated secondary offering plan," 

said Koesoemohadiani in the information disclosure on the Indonesia Stock Exchange (IDX), Wednesday (30/11/2022).

GOTO continues, as stated in the prospectus, the period of prohibition on the transfer of shares or lock-up of Series A shares owned by pre-IPO shareholders for 8 months from the effective date of the initial public offering ends on November 30, 2022.

Thus, starting December 1, 2022, all series A shares excluding treasury shares, which have been issued by GOTO in the amount of 1.12 trillion (1,123,527,533,886) series A shares, 

will be able to be traded on the Indonesia Stock Exchange representing around 95 percent of the total authorized, issued and fully paid capital. 

GOTO's public free float is approximately 64 percent of all shares which constitute the total authorized, issued, and fully paid capital shares of GOTO.

The public free float includes series A shares owned by shareholders of less than 5 percent of all GOTO shares. 

This includes all shares that are not owned by members of the board of commissioners or directors of the company, all shares that are not owned by shareholders with multiple voting rights and affiliates of GOTO, 

shares that are not part of the treasury shares repurchased by GOTO, and shares that will be converted to be scripless stock .

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