Indonesia’s PT GoTo Gojek Tokopedia has sold its stake in local retailer Alfamart worth US$96.03 million to focus on profitability.
GoTo shares are trading at record-low levels.
After pre-IPO owners elected to participate in a secondary offering, shares fell by almost 55 percent in the last two weeks, wiping out almost $8.8 billion in market value.
Gojek, a leader in taxi-hailing and payments, and Tokopedia, a leading name in online shopping, have combined to form GoTo. GoTo has lost more than $23 billion in market value since coming public in April, and its current share price of $0.006 is 72 percent less than its initial public offering price of $0.022.
GoTo, which reported a smaller deficit in the third quarter, intends to put profitability first, explore selling non-core assets and investments, and refrain from making any "new investments that do not contribute to the acceleration of profitability."


SK Hynix Shares Drop After Strong Nasdaq Debut Despite $26 Billion ADR Listing
Fed Reaffirms 2% Inflation Goal, Vows Forceful Action to Anchor Price Expectations
Why a ‘rip-off’ degree might be worth the money after all – research study
Gold Prices Set for Weekly Loss as Iran Tensions and Fed Rate Outlook Weigh
6 simple questions to tell if a ‘finfluencer’ is more flash than cash
Stellantis Q2 Vehicle Shipments Rise 10% as North America Drives Growth
Oppenheimer Sees CNH Industrial as Top 2026 Agriculture Stock Pick on Dealer Consolidation Strategy
Heritage, desire and diplomacy: why China still values scotch whisky
Samsung Chairman Lee Jae-yong Expected to Meet Nvidia CEO Jensen Huang on AI and Chip Partnership
US Stock Futures Slide as Iran Conflict Escalates Ahead of Key Q2 Earnings Week
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields
SK Hynix Soars 13% in Nasdaq Debut After Record $26.5 Billion IPO
The ghost of Robodebt – Federal Court rules billions of dollars in welfare debts must be recalculated
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes
Wall Street Rises as SK Hynix’s Record Nasdaq Debut Steals Spotlight Ahead of U.S. CPI Data
EU Weighs New Trade Restrictions on Israeli West Bank Settlements
US Stock Futures Steady as Oil Prices Ease, Iran Talks Boost Market Sentiment 



