GoTo is to give away thousands of shares to each of 600,000 drivers as part of its US$1.1 billion Indonesian initial public offering (IPO), it said yesterday, setting a precedent for Southeast Asia’s sharing economy.
Drivers who registered with the ride-hailing and delivery app between 2010 and 2016 would receive 4,000 GoTo shares, equivalent to US$94 based on the IPO price of 338 rupiah. Those who registered from 2017 to February would get 1,000 shares, part of a total pool of more than US$20 million allocated for drivers, it said in a statement.
GoTo, formed through the merger of Gojek with e-commerce