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Report: Indonesia's Go-Jek eyeing IPO

Indonesian ride-hailing startup PT Go-Jek Indonesia is considering an IPO, Bloomberg News reported March 5, citing Indonesia Stock Exchange President Tito Sulistio.

Go-Jek President Andre Soelistyo and company executives met bourse officials in Jakarta the same day to discuss an IPO.

The company is "very serious" about a public listing, despite not having a specific time frame, the report said, citing a text message from Soelistyo.

Go-Jek might consider a dual listing to allow foreign investors to buy into it, Sulistio added. The startup will reportedly be allowed to sell shares even if it becomes unprofitable as long as it can forecast future profits.

Go-Jek's backers include Tencent Holdings Ltd. and Alphabet Inc.-owned Google Inc., which invested in its US$1.2 billion funding round for an undisclosed amount.

The funding round has reached US$1.5 billion, Reuters reported Feb. 26.