MSCI Flags GoTo Share Liquidity Concerns, Freezes Index Adjustments

Global index provider Morgan Stanley Capital International (MSCI) has flagged liquidity concerns regarding GoTo Gojek Tokopedia Tbk (GOTO) shares. In a statement on Tuesday, 26 May 2026, MSCI announced it would freeze adjustments to the company’s stock, including changes to the Number of Shares (NOS), Foreign Inclusion Factor (FIF), Domestic Inclusion Factor (DIF), restriction factors, and additions or removals from MSCI indices as part of the May index review. This applies to the Global Investable Market Index and non-market-cap-weighted indices such as the MSCI Factor Index, Sustainability & Climate Index, Thematic Index, and Capped Index.

MSCI will conduct a further review in August 2026. While GoTo remains in the MSCI Global Standard Index, it risks delisting if it fails to meet liquidity requirements. “MSCI will review the security’s liquidity further under the MSCI Global Investable Market methodology during the August 2026 review and will remove GoTo Gojek Tokopedia Tbk if it fails to meet relevant liquidity criteria at that time,” the statement said.

Share prices closed at Rp 50 on Friday, 29 May 2026, having fallen 27.54% since the start of the year. The company plans a buyback of up to Rp 3.5 trillion, to be proposed at an Extraordinary General Meeting of Shareholders on 18 June 2026. Management stated the buyback aims to enhance capital management flexibility and optimise the capital structure. “Through share repurchases, the company hopes the share price will reflect its true fundamental value,” according to a disclosure statement dated 22 May 2026.