Morgan Stanley lifts GOTO stake to 7.6% with $34M buy ahead of price-floor change
What's the deal? Morgan Stanley spent US$35.7M buying shares in Indonesian tech group PT GoTo Gojek Tokopedia (GOTO)Dealroom has a profile for this one. Try Dealroom → on September 2, lifting its stake from 5.71% to 7.59%. The US investment bank bought across three trades at US$0 per share, adding roughly 21.68 billion shares. It described the purpose as "investment."
The details: The largest trade covered 12.58 billion shares worth US$20.5M, followed by 119.95 million shares at US$194.8K, then 9.22 billion shares worth US$15M. As of August 31, Morgan Stanley held 4.57%, or 54.43 billion shares.
Why now? The buying comes as the Indonesia Stock ExchangeDealroom has a profile for this one. Try Dealroom → plans to cut the minimum share price from US$0 to US$0. That would let so-called "gocap" stocks such as GOTO — stuck at the US$0 floor for four months — move freely again.
What could go wrong? Removing the floor could trigger short-term selling pressure and volatility. Nafan Aji Gusta, senior technical analyst at Mirae Asset SekuritasDealroom has a profile for this one. Try Dealroom →, expects GOTO to test US$0–US$0, and possibly US$0–US$0 under heavy selling. His rating: "NOT RATED."
Sell orders already point to an overhang. Intraday BEI data at 11:26 WIB showed a sell queue of about 400.46 million lots. Shareholders previously stuck at US$0 would gain room to sell below that level.
The fundamentals: GOTO posted net profit of US$39.6M in the first half of 2026. Even so, its 2026 EBITDA outlook faces pressure, prompting the company to revise its performance guidance.
The signal: A large foreign institution is building a position just as a rule change reshapes how GOTO's price is set. As Nafan notes, the shift could bring healthier price discovery — negotiated trades have already changed hands at US$0–US$0 — but the stock's direction now hinges on supply, demand, and the moves of big investors.
Read more: katadata.co.id
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