JAKARTA (The Jakarta Post/Asia News Network): Business conglomerates and some of the richest individuals in the country have been flocking to invest in digital banking as consumers rapidly adopted online services during the Covid-19 pandemic.
Indonesian ride-hailing giant Gojek announced on Friday that it had increased its stake in publicly listed Bank Jago as part of its long-term investment plan and strategic partnership to strengthen its financial services.
The tech company bought a total of 1.96 billion of Bank Jago’s shares, or equal to an 18.02 percent stake in the bank, through PT Dompet Karya Anak Bangsa, which operates payment service GoPay, at a price of Rp 1,150 (8 US cents) at the negotiated market. This means Gojek spent about Rp 2.25 trillion for the shares acquisition and increased its ownership in the bank to 22.16 percent from the previous 4.14 percent.