GoTo Boss Speaks Out on Announcements from the IDX, FTSE, and MSCI

Jakarta, CNBC Indonesia - PT Goto Gojek Tokopedia Tbk. (GOTO) has issued a statement regarding the latest announcements from the Indonesia Stock Exchange (IDX), FTSE Russell, and MSCI concerning adjustments to the IDX’s listing board classifications and related index treatments.

Head of Investor Relations at GoTo, Joel Ellis, stated that these developments are technical and administrative adjustments based on the quantitative criteria of the relevant indices and do not reflect the company’s business performance.

“The MSCI announcement relates to liquidity constraints arising from the minimum price limit for shares traded on the IDX, and therefore does not reflect the company’s underlying business fundamentals,” he said in a written statement, quoted on Thursday (June 4, 2026).

Regarding the IDX’s reclassification, which moves GoTo from the new economy board to the development board, this is because the company does not meet one of the criteria, namely the minimum 20% average annual revenue growth (CAGR) over three years, as a result of the deconsolidation of Tokopedia in early 2024.

“Given that the FTSE Global Equity Index Series does not currently recognise the development board, and considering current trading conditions on the IDX, GoTo shares will be removed from that index,” he added.

Management assures that none of these changes will impact the company’s operational activities or strategy.

In the first quarter of 2026, GoTo reported its first quarterly net profit in history, amounting to Rp171 billion, driven by a 26% year-on-year increase in net revenue to Rp5.3 trillion.

The company maintains its full-year adjusted group EBITDA guidance of Rp3.2-3.4 trillion, representing a 60% increase year-on-year.

“GoTo’s business fundamentals are strong, and the company remains focused on disciplined and profitable growth, as well as creating value for all customers and shareholders,” he concluded.