TEMPO.CO, Jakarta - The Indonesia Stock Exchanges (IDX) held a meeting with the management of online transportation company Go-Jek. The two discussed the possibilities of protecting the company's share ownership during its initial public offering (IPO).
"When a technology company holds an IPO, usually foreign investors will buy their shares in bulks," IDX president director Tito Sulistio said in Jakarta, Monday, March 5.
He said that Go-Jek's is focused on staying as an Indonesian firm. Existing rules allow the Go-Jek's shares to be controlled by Indonesian shareholders because of the golden share concept—known in Indonesia as the dwiwarna or 'two-color' concept.
Read: Google Invests in Ride-hailing Firm Go-Jek
Tito said that Go-Jek also plans to hold a dual listing. IDX recommends Go-Jek to list with Euronext.
Meanwhile, Go-Jek president Andre Soelistyo said their main reason to go public is to allow their drivers to become the shareholder.
"It's just a matter of time. We want to list with the IDX so that Indonesians—including our driver partners can own Go-Jek shares," he said.
ANTARA
