Ready, Set, GoTo: Indonesia’s tech titan walks through the door

Indonesian ride-hailing champion GoTo Group made a bold market debut on Monday – with shares at a point 23% above their initial public offering price – defying turbulent market conditions across the world.

Investors’ first vote of confidence in the company – and Southeast Asia’s largest economy – may be warranted. But with a rich valuation relative to some peers, the company needs to leverage its current favorable market and regulatory position to cement its dominance. If the past two years have proven anything, it’s that regulatory forbearance — and investor tolerance for loss-making companies — can be fickle.


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