JAKARTA, Oct 22 (Bloomberg): Indonesia’s largest tech company GoTo Group is in talks with its major owners for a controlled sale of roughly $1 billion of their stakes, aiming to avoid a potential stock crash when a lock-up on their holdings ends next month.
The ride-hailing and e-commerce provider is gauging the interest of early backers including Alibaba Group Holding Ltd. and SoftBank Group Corp. for a managed sale of some of their shares to new investors, according to people familiar with the matter. The plan is part of an effort to prevent a potential drop in GoTo stock price that could occur if many investors sell shares when a lock-up period expires on Nov. 30, the people said.
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