JAKARTA (Reuters) – Indonesia’s biggest tech company PT GoTo Gojek Tokopedia Tbk intends to issue a maximum amount of 118.44 billion of shares worth around 10% of its total capital through a private placement.
The private placement will be put forward for shareholder approval at GoTo’s annual general meeting on June 28th, it said in a statement on Friday.
The price of the new shares shall be at least 90% of the average closing price of GoTo’s shares for 25 consecutive trading days prior to the date of application for the additional shares, it said.
($1 = 14,669.0000 rupiah)
(Reporting by Stefanno Sulaiman; Editing by Kanupriya Kapoor)