Could GoTo abandon plans for a US listing?

Experts are divided on whether the recent success of Bukalapak could prompt GoTo to pursue a standalone Indonesia listing.

On Wednesday October 20 Abu Dhabi’s sovereign wealth fund announced it had led a $400 million investment in Indonesia’s GoTo ahead of the Indonesian internet group’s planned initial public offering IPO.  

GoTo formed in May this year through a merger of ride-hailing app Gojek and e-commerce player Tokopedia, and at the time had a valuation of $18 billion. The company said in a media briefing during the same month that it intended to pursue listings in Indonesia and the US. 

“We think it’s the right time, given our size, scale and the maturity of our teams, infrastructure, systems...

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