Heaptalk, Jakarta — The three founders and shareholders of PT GoTo Gojek Tokopedia (GOTO), covering Andre Soelistyo, William Tanuwijaya, and Kevin Aluwi, are reportedly to unleash their ownership shares.
According to the company, these founders plan to trade their shares with multiple voting rights by the issuer, a Multiple Voting Shares (MVS). This share-unleashing intention was conveyed when company management responded to the issue of securities volatility.
In more detail, referring to the information disclosure on the Indonesian Stock Exchange (IDX), Andre Soelistyo plans to vend the GOTO stock up to 998,15 million Series A shares worth Rp60 billion, or around 10% of the current ownership share at the company, in the medium term.
Meanwhile, William Tanuwijaya also intends to unleash up to 3.09 billion Series A, representing 15% of the total ownership of this ride-hailing company shares in the medium term. Previously, this company founder has unleashed about 332,22 million shares as of October 9th – 13th, 2023, with a price of Rp78.89 per share. From this effort, he has obtained a fund worth US$1.6 million, approximately Rp26.2 billion.
Furthermore, Kevin Aluwi intends to continue trading part of the company’s Series A stock to diversify and re-balance his portfolios. As information, Kevin no longer holds any position at the GoTo company.
“Since he no longer serves at the company, Kevin has sold shares to diversify his portfolio. For this reason, he also continues to trade the part of his Series A share ownership in the company.” The Management Team of GoTo company affirmed.
IDX’s response to GOTO founder’s steps
In response to the GOTO’s Founders move, IDX’s Director of Company Valuation, I Gede Nyoman Yetna, admitted that this technology company’s MVS shareholders (Series B Shares) also have Series A stocks. Based on his statement, Nyoman reminded that the company’s shareholders could release their stock ownership following the provisions in force as long as the lock-up period has ended.
In the further statement, Nyoman claimed that this stock-releasing move had fulfilled the existing policy because one of the GOTO Founders, William Tanuwijaya, has traded the Series A shares, whereby the lock-up period has been completed since December 11th, 2022. However, related to the Series B shares trading (MVS stocks), Nyoman emphasized that the founders are prohibited from transferring part or all of their ownership of shares in this series for two years until the Effective Date on March 30, 2024.
Based on the GOTO 2022 IPO prospectus, the company’s shareholder structure possesses two types of series, including Series A shares (ordinary shares) and Series B stocks (shares with multiple voting rights).
