NUSADAILY.COM-JAKARTA-At the end of this month, not only the Former Boss Gojek Nadiem Makarim is trending. His company also became a discussion, because Gojek intends to IPO in Vietnam and the Indonesia Stock Exchange.
The plan has been explained by two new Gojek CEOs who are preparing the IPO plan. Namely the new boss Gojek, Kevin Aluwi and Andre Soelistyo. Gojek studies IPO with a dual listing scheme. Reporting from CNBC, successor to Nadiem Makarim, Gojek Co-CEO Andre Soelistyo said, the company had begun reviewing the opportunities for initial public offering (IPO) listing of its shares on two stock exchanges (dual listings). The main purpose is Bursa Efek Indonesia (BEI).
However, he was reluctant to comment on which other stock exchanges would be chosen. “One of our goals for an IPO with a dual listing scheme is to become a global company,” said Andre, who was accompanied by other Gojek Co-CEO Kevin Aluwi, in Jakarta, Thursday (10/24) night.
But, he stressed that the IPO will not be done in the near future. Because, there are three considerations in deciding the listing time of Gojek shares.
First, examining an economic conditions and a stock market that is conducive to an IPO. Second, continuing to encourage good corporate governance (Good Corporate Governance / GCG) and transparency in the body of Gojek. Because, this is the duty of a public company.
Kevin added, Gojek was helped by the presence of PT Adaro Energy Tbk CEO Garibaldi Thohir (Boy Thohir) as Gojek’s current Commissioner. In addition, one of Gojek’s investors, PT Astra Internasional Tbk, is a leading public company on the BEI.
Finally, Gojek will continue to improve its performance first in order to grow sustainably. One of the efforts is a marketing strategy that is more selective in targeting certain segments. Therefore, the performance of the company can be more efficient and turn a profit.
“If our books (financial report) are already blue (making a profit), an IPO can be done,” said Andre.
Head of the Capital Market Supervision of the Financial Services Authority (OJK), Hoesen, admitted that until now there has been no discussion related to this matter to his party. “Gojek said they wanted a listing, dual listing in Indonesia and other countries, that was just a plan. Now he (Founder of Go-Jek “Nadiem Makarim) became a minister. So I don’t know? Well, I don’t know. I don’t know, I never talked that far,” he said during a discussion session with the media in Lombok, West Nusa Tenggara (NTB), Friday (10/25/2019)
According to Hoesen, there are several things that make startups tend to refrain from listing Initial Public Offering (IPO). One of which is related to business transparency that affects competition between startups.
The Gojek application was downloaded 155 million times as of June 2019. The Indonesian Decacorn also hooked 400 thousand sales partners and 60 thousand service providers in Southeast Asia. The on-demand service provider company has also expanded to Singapore, Vietnam and Thailand. In the Philippines, Gojek entered through a local startup, Coins.ph. (Cnbc/kumparan/cak)