GoTo Gojek Tokopedia Ousted From MSCI Index Amid Market Struggles
10 Articles
10 Articles
GoTo Gojek Tokopedia Ousted from MSCI Index Amid Market Struggles
GoTo Gojek Tokopedia, once valued at $29 billion, will be removed from MSCI's Indonesia index due to concerns over the company's low liquidity. This follows its exclusion from the FTSE Russell global equity index, marking significant challenges for one of Indonesia's leading ride-hailing firms.
MSCI to drop ride-hailing firm GoTo from Indonesia index on liquidity concerns
Indonesian ride-hailing giant GoTo Gojek Tokopedia will be removed from MSCI's Indonesia index at the end of this month, the index provider said on Wednesday, dealing another setback to the country's equity markets.
The possible exit of South Korea from the index, scheduled for next year, is the key factor for this movement of capital. Greece will be reclassified to developed market in 2027, while Indonesia and Turkey are targeted for degradation.
GoTo's Head of Corporate Affairs, Audrey Petriny, assessed that MSCI's decision to remove GOTO from the MSCI Global Standard Indexes was purely technical in nature.
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