KONTAN.CO.ID-JAKARTA. PT GoTo Gojek Tokopedia Tbk (GOTO) plans to carry out a share buyback of up to US$ 200 million. This is in line with the performance throughout 2023. GOTO's CEO Patrick Walujo said that in line with improving profitability and cash flow, GOTO will optimize its capital utilization in line with the newly prepared capital allocation plan, "This plan includes the initiative to buy back GOTO shares or as much as US$ 200 million share buyback," he explained in an official statement received by Kontan, Tuesday (19/2)
Patrick said the corporate action could only be executed after GOTO obtained approval from the regulator and shareholders through the Annual General Meeting of Shareholders (AGM). However, GOTO's board of commissioners and directors will periodically review the buyback plan and may make changes or adjustments if necessary. "More detailed information on the share buyback plan will be conveyed to all shareholders in accordance with applicable provisions," said Patrick. Baca Juga: GOTO Records a Net Loss of IDR 90 Trillion in 2023 Throughout 2023, GOTO recorded a net income of IDR 14.78 trillion. This achievement jumped 30.28% annually from IDR 11.34 trillion in 2022. Then GOTO's business loss shrank by 66.11% to IDR 10.27 trillion throughout 2023. In the previous year, the technology company's business loss reached IDR 30.32 trillion.
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