Tokopedia Founder Sells His GoTo Stake, GoTo Shares Plummet by 19%
The post Tokopedia Founder Sells His GoTo Stake, GoTo Shares Plummet by 19% appeared on BitcoinEthereumNews.com. Over the last week, GOTO stock lost about 20% in price, from 83 rupiahs per share on Monday to an all-time low of 67 rupiahs on Friday, with its market cap dropping to 80.5 trillion rupiahs from 101 trillion rupiahs. William Tanuwijaya, the founder of the leading Indonesian e-commerce company Tokopedia, has sold a staggering number of shares in the digital company PT GoTo Gojek Tokopedia Tbk (JKT: GOTO). Following the news, GOTO stock tanked by 19.4%. As of the press moment, GOTO stock is another 8.22% down, trading at 65 rupiahs per share, which is more than 60% down from last November’s record high. GoTo Shares The number of shares William Tanuwijaya offloaded totaled 332,220,000, which makes up roughly 0.03% of the company’s issued and paid-up capital. Tanuwijaya reduced his slice of the GoTo Gojek company to 1.72% from 1.77% and explained his decision with personal reasons. It is unclear yet if the sale will affect Tanuwijaya’s role within the company or if this is part of a larger financial strategy. Earlier, a foreign investor GOTO Peopleverse Fund was selling shares in the company. In particular, the investor sold as many as 330.85 million shares and currently only owns 5.89% of GoTo Gojek Tokopedia. The reason for the move was not revealed, however, some attribute it to the current uncertainty over the regulatory environment in Indonesia. Over the last week, GOTO stock lost about 20% in price, from 83 rupiahs per share on Monday to an all-time low of 67 rupiahs on Friday, with its market cap dropping to 80.5 trillion rupiahs from 101 trillion rupiahs. Regulatory Concerns in Indonesia Since 2019, when the world was hit by the pandemic, Indonesia’s e-commerce market has been experiencing remarkable growth, which drove the country to become the world’s ninth-largest e-commerce sector. However, there are still issues that demand attention. Lately,…
The post Tokopedia Founder Sells His GoTo Stake, GoTo Shares Plummet by 19% appeared on BitcoinEthereumNews.com.
Over the last week, GOTO stock lost about 20% in price, from 83 rupiahs per share on Monday to an all-time low of 67 rupiahs on Friday, with its market cap dropping to 80.5 trillion rupiahs from 101 trillion rupiahs. William Tanuwijaya, the founder of the leading Indonesian e-commerce company Tokopedia, has sold a staggering number of shares in the digital company PT GoTo Gojek Tokopedia Tbk (JKT: GOTO). Following the news, GOTO stock tanked by 19.4%. As of the press moment, GOTO stock is another 8.22% down, trading at 65 rupiahs per share, which is more than 60% down from last November’s record high. GoTo Shares The number of shares William Tanuwijaya offloaded totaled 332,220,000, which makes up roughly 0.03% of the company’s issued and paid-up capital. Tanuwijaya reduced his slice of the GoTo Gojek company to 1.72% from 1.77% and explained his decision with personal reasons. It is unclear yet if the sale will affect Tanuwijaya’s role within the company or if this is part of a larger financial strategy. Earlier, a foreign investor GOTO Peopleverse Fund was selling shares in the company. In particular, the investor sold as many as 330.85 million shares and currently only owns 5.89% of GoTo Gojek Tokopedia. The reason for the move was not revealed, however, some attribute it to the current uncertainty over the regulatory environment in Indonesia. Over the last week, GOTO stock lost about 20% in price, from 83 rupiahs per share on Monday to an all-time low of 67 rupiahs on Friday, with its market cap dropping to 80.5 trillion rupiahs from 101 trillion rupiahs. Regulatory Concerns in Indonesia Since 2019, when the world was hit by the pandemic, Indonesia’s e-commerce market has been experiencing remarkable growth, which drove the country to become the world’s ninth-largest e-commerce sector. However, there are still issues that demand attention. Lately,…
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