The stock diversion activity has reduced the GoTo Peopleverse Fund shareholding in GOTO, becoming 8.25%, or nearly 97.7 billion Series A shares.
Heaptalk, Jakarta — GoTo Peopleverse Fund (GPF), one of the shareholders in Series A that represents 8.30% of the paid-up capital in the PT GoTo Gojek Tokopedia Tbk company, has conducted the stock diversion activity through the market negotiations period December 7th to 14th, 2022.
Refers to the disclosure of information on the Indonesia Stock Exchange (IDX) on Tuesday (12/20), GPF has switched its shareholding in an immense stock amount of 556,961,893, or approximately 0.57% of GPF shareholding in GoTo company.
As delivered by the GoTo Peopleverse Fund Management team, this action is a part of GoTo’s Employee Stock Option and Consultants agenda. As it is reported, the transaction price is in the range between Rp2 – Rp102 per share. Based on the GoTo IPO prospectus, this stock price is the exercise price stipulated in each share option agreement with participants.
After the transaction, GPF’s shareholding composition in this giant technology company decreased to 8.25% or approximately 97,716,234,965 Series A shares. Previously, GoTo Peopleverse has also reported a shareholding of Series A in a tremendous amount. This move occurred after the lock-up agenda of Series A shares last November 30th this year.
During the Incidental Public Expose occasion, the Director of PT GoTo Gojek Tokopedia Tbk, Melissa Siska Juminto, admitted, “After accomplishing the lock-up agenda of the shares, participants of the employee stock ownership program can exercise their rights to their stocks by purchasing the stock options they own, which in this case are primarily in the amount of Rp2.
If program participants have conducted the transaction, they will obtain GOTO shares and become company shareholders with an equivalent right as other retail program participants. As affirmed by Melissa, holding the Employee Stock Option Plan (ESOP) activity is not solely to trade their stocks.
As it is well known, the stock of GoTo company continued to encounter several compression since the stock lock-up period opened. Several institutional investors have also disposed of their shareholding in this technology company.
As reported by Bloomberg, multiple institutional investors unleashed the GOTO stocks, including the First Trust Advisors LP of 1.47 million shares, on December 7th, 2022. Concurrently, WisdomTree Inc also traded 6.68 million GOTO shares. On the other hand, Exchange Traded Concepts LLC also vented the stock of 1.34 million a day before.
This action was executed as previously the Indonesia Stock Exchange (IDX) delivered an Unusual Market Activity (UMA) announcement of the GoTo technology company stock price on the trading momentum on Tuesday (12/12).
