Research

GOTO: Sold AMRT, More To Come?

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Algo Research Team

Company | Dec 19, 2022 | Views: 40

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Key Summary:

  • Why divest
  • Which divestment
  • Which stocks

GOTO recently divested AMRT netting around IDR1.5tn in cash. Back in 1Q21, there were rumours of Gojek and Tokopedia acquiring a stake in AlfaMart, but since it was a minority stake no public disclosure was needed. Looking at the price charts, it looks like they made a good profit too. Are there more divestments in the pipeline? 


One of the concerns for GOTO was the lackluster IPO that ended up raising just under USD1bn, in contrast to GRAB around USD4.5bn or Bukalapak at USD1.5bn. Its public float for IPO was only 3.43%, which was small and was down from 4.35% in its Preliminary Prospectus to the final Prospectus (3.43%).

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