GOTO Shares Stuck at Rp50 Floor, MSCI Highlights Liquidity Concerns

Global index provider MSCI has highlighted liquidity concerns for PT GoTo Gojek Tokopedia Tbk (GOTO) shares. In its announcement, MSCI decided to retain GOTO in the global standard index but freeze all changes related to the stock due to its trading at the minimum price of Rp50 per share. This was stated in the MSCI Global Standard Indexes Announcement released on 26 May 2026 at 20:19 GMT. The announcement stated: ‘Due to the very low liquidity of PT GoTo Gojek Tokopedia Tbk resulting from trading at the minimum price of Rp50 on the Indonesia Stock Exchange since the close on 13 May 2026, there is a potential for index replication issues,’ as cited on Friday, 29 May 2026. GOTO remains in the Mid Cap category of the MSCI Global Standard Indexes, effective from 1 June 2026. MSCI noted that the minimum tradable price of Rp50 per share since the market close on 13 May 2026 could hinder institutional investors and global fund managers from effectively replicating the index. MSCI will freeze all changes to the number of shares (NOS), Foreign Inclusion Factor (FIF), Domestic Inclusion Factor (DIF), restriction factors, and additions or deletions for this security within the MSCI Indexes as part of the May 2026 Index Review. This applies to MSCI’s global investment indexes and non-market-cap-weighted indexes, such as factor, sustainability and climate, thematic, and restricted MSCI indexes. However, MSCI has made exceptions: if freezing the restriction factor for GOTO causes non-compliance with concentration rules in indexes such as MSCI 10/40, 25/50, or 35/65, then adjustments to the restriction factor will still be made to maintain index methodology compliance. MSCI will review the liquidity further as part of the August 2026 Index Review, and will remove PT GoTo Gojek Tokopedia Tbk if it fails to meet relevant liquidity requirements at that time.