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IPO

Indonesia's GoTo braves rocky market with $29bn valuation IPO plan

Merged superapp company's move comes as rival Southeast Asian tech stocks slump

GoTo's Indonesian IPO comes as tech stocks in Southeast Asia have taken a beating. (Source photo by Goto)

JAKARTA -- GoTo, Indonesia's largest private tech company, is looking to raise up to 17.9 trillion rupiah ($1.25 billion) in an initial public offering that will likely prove a test amid a battering Southeast Asian tech stocks have taken in recent weeks.

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