TEMPO.CO, Jakarta - PT GoTo Gojek Tokopedia Tbk (GOTO) has announced a revision in the use of proceeds from its public offering. Approximately Rp403 billion, which was initially allocated to its subsidiary Velox Digital Singapore Pte. Ltd., will now be redirected to the parent company and its digital payment platform, Gopay.
GOTO Director Simon Tak Leung Ho stated that the funds would be used as working capital for the company and PT Dompet Anak Bangsa, the entity that manages Gopay.
Of the redirected funds, Rp300 billion will go to GOTO, while Rp103 billion will be allocated to Gopay.
"The plan to change the use of funds from the Public Offering has been approved by the Extraordinary General Meeting of Shareholders on 18 June 2025," said Simon in an information disclosure to the Indonesia Stock Exchange on Monday, 14 July 2025.
In a separate move, GOTO also reallocated Rp404 billion that was originally intended for GoViet Technology Trading Joint Stock Company. The entire amount will now be directed to Gopay.
With these changes, Gopay is set to receive an additional capital injection of approximately Rp507 billion.
During its IPO in March 2022, GOTO raised Rp13.57 trillion. As of December 2024, the remaining proceeds stood at Rp1.48 trillion.
GOTO is also continuing its share buyback initiative. On 11 June 2025, the company completed a buyback worth Rp2.09 trillion, acquiring a total of 32.19 billion treasury shares over the period from 12 June 2024 to 11 June 2025.
This year, GOTO has launched a new buyback program valued at Rp3.3 trillion.
Simon explained that the share repurchase aims to provide the company with greater flexibility in managing and optimizing its capital structure. The move also supports the company’s Employee Stock Ownership Program (ESOP) and Management Stock Option Plan (MSOP).
"The implementation of the ESOP/MSOP Program will be carried out no later than three years after the end of the buyback period," Simon added in a separate disclosure on Monday, 16 June 2025.
He further noted that the share buyback is designed to enhance shareholder value through the efficient use of surplus capital.
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