In today’s briefing:
- GoTo Pre-IPO – Quick Take on US$1bn+ Domestic Listing
- Indonesian Rupiah Shines in Volatile Times
GoTo Pre-IPO – Quick Take on US$1bn+ Domestic Listing
- GoTo aims to raise around US$1.25bn from a local listing, which will mainly be targeted at domestic investors. The company has filed its prospectus today.
- GoTo, is an Indonesian holding company, was formed in May 2021 as a result of a merger between Gojek, leading player in ride hailing, and Tokopedia, leading e-commerce player.
- In this note, we will take a quick look at the company’s financial performance.
Indonesian Rupiah Shines in Volatile Times
- The Indonesian rupiah has outperformed most EM currencies, particularly other Asian currencies, and has done so with low volatility in contrast with the rising volatility of the EM FX index.
- Looking ahead, headwinds may be appearing with the interest-rate differential working against the currency as the Fed starts raising rates and higher inflation leading to lower real rates.
- While the rise in commodity prices is generating trade surpluses for now, the current account may turn negative from positive with a rise in imports accompanying the economy’s reopening.
Before it’s here, it’s on Smartkarma
