Morgan Stanley lifts GOTO stake to 7.6% with $34M buy ahead of price-floor change
What's the deal? Morgan StanleyDealroom has a profile for this one. Try Dealroom → spent Rp 547.95 billion (about $34 million) 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 Rp 25 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 Rp 314.44 billion, followed by 119.95 million shares at Rp 2.99 billion, then 9.22 billion shares worth Rp 230.52 billion. 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 Rp 50 to Rp 1. That would let so-called "gocap" stocks such as GOTO — stuck at the Rp 50 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 Rp 20–Rp 30, and possibly Rp 10–Rp 20 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 Rp 50 would gain room to sell below that level.
The fundamentals: GOTO posted net profit of Rp 608 billion 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 Rp 23–Rp 25 — 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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