FILE PHOTO: A Go-Jek driver rides a motorcycle on a street in Jakarta, Indonesia, Dec, 15, 2017. REUTERS/Beawiharta
JAKARTA (Reuters) - A total of 6 billion shares of Indonesia's largest tech firm PT GoTo Gojek Tokopedia have been bought as of Friday, under a scheme to stabilise its share price, the company said in a filing to the Indonesian Stock Exchange.
To avoid sharp drops in its stock price, GoTo has put in place a greenshoe option scheme where a "stabilisation agent", broker PT CGS-CIMB Sekuritas Indonesia, was appointed to buy a maximum of 6.09 billion shares from the market should the price hit or drop below the IPO level of 338 rupiah per share.
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