KONTAN.CO.ID - SINGAPORE. The share price of Indonesian tech giant PT GoTo Gojek Tokopedia has been affected by macroeconomic conditions, a free float of shares, and other factors out of the company's control, its president Patrick Cao said on Thursday. Indonesia's biggest tech firm, which offers ride-hailing, e-commerce and financial services, has struggled with losses since it went public in April. GoTo raised $1.1 billion from its IPO but its shares have plunged by 70% since and sank 6.5% on Thursday.
GoTo's Share Price Affected by Multiple Factors - President
KONTAN.CO.ID - SINGAPORE. The share price of Indonesian tech giant PT GoTo Gojek Tokopedia has been affected by macroeconomic conditions, a free float of shares, and other factors out of the company's control, its president Patrick Cao said on Thursday. Indonesia's biggest tech firm, which offers ride-hailing, e-commerce and financial services, has struggled with losses since it went public in April. GoTo raised $1.1 billion from its IPO but its shares have plunged by 70% since and sank 6.5% on Thursday.