On 11 April, the opening buzzer finally rang for one of the world’s largest initial public offerings this year, worth almost US$960 million. On its first day of trading on the Indonesia Stock Exchange (IDX), tech giant GoTo’s share price climbed as high as IDR 416, up from its offer price of IDR 338, before closing at IDR 382, a 13% gain. ​

The firm’s market capitalisation is now at more than US$31 billion, making it the fourth-largest entity on IDX after two major banks—Bank Central Asia and Bank Rakyat Indonesia—and Indonesia’s state-owned telco Telkom Indonesia.

Overall, it was a positive outcome for GoTo, which was formed from last year’s merger merger The Ken How will GoTo get global investors to go to Indonesia?