In today’s briefing:
- GoTo IPO: Shares Are Still Overvalued and There Is Further Downside
GoTo IPO: Shares Are Still Overvalued and There Is Further Downside
- Superapp GoTo (GOTO IJ) made its public debut on the Indonesian Stock Exchange on 11th April. The company set the final IPO price at IDR338 per share.
- GoTo’s shares surged nearly 23% to IDR416 a piece on the open, boosting the company’s market cap to more than IDR497trn.
- GoTo’s share price has continued to slide and our SOTP valuation suggests that there is further downside.
Before it’s here, it’s on Smartkarma
