Global Investment Giant Lego IDR 1 T of GOTO Shares, Why?

Jakarta, Reportase – Global giant investment company Softbank through its subsidiary SVF GT Subco is known to have released a significant stake in GoTo Gojek Tokopedia (GOTO).

Singapore-based SVF GT Subco was recorded as holding 8.71% of GOTO shares after the company successfully conducted an IPO in the first half of last year.

The ownership actually did not change at all until the end of the year, though lock up Trading for initial shareholders officially ended November 30 last year.

However, the situation changed 180 degrees in 2023 where Softbank gradually reduced its ownership in GOTO.

At the end of 2022, the number of SVF GT shares has 103.12 billion (8.71%) GOTO shares or the same portion as when GOTO first went public. Meanwhile, citing the latest data from the Indonesian Central Securities Depository (KSEI), current ownership of SVF GT in GOTO remains 92.29 billion (7.79%) shares.

KSEI data also noted that the latest release by SVF occurred at the end of last March, with a total of 10.83 billion shares sold.

This means that SVF GT will exclusively release GOTO shares throughout this year. Assuming that the minimum average selling price is Rp. 100/share, the amount of funds obtained from the release of GOTO shares will reach more than Rp. 1 trillion.

For the record, GOTO’s share price has never closed below IDR 100/share since January 13 this year until the last trading week last Thursday (6/4).

Last year, GOTO recorded a loss of Rp. 40 trillion, but the company’s leaders are optimistic that the company is on the right track to quickly reach the level of profitability which, based on internal calculations, is expected to occur later this year.

Meanwhile, Softbank Group Corp recorded a loss of Rp 187 trillion last year due to the performance of the technology sector which was depressed due to the increase in interest rates and the decline in investor enthusiasm.

In the last three months of last year, the Softbank Vision Fund (SVF) reported that new investments were only around US$ 300 million (Rp 4.5 trillion), down 98% from the US$ 15.6 billion (Rp 234 trillion) the company disbursed in three months. in the middle of 2021.

In the first trading session Monday (10/4), GOTO shares touched the lower auto rejection level (ARB) or fell 6.93% to IDR 94/share with a market capitalization of IDR 111.33 trillion.

[Gambas:Video CNBC]