GoTo Gives IPO Shares to 600,000 Drivers in Regional First

GoTo will give away thousands of shares to each of 600,000 drivers as part of its $1.1 billion Indonesian initial public offering, setting a precedent for Southeast Asia’s sharing economy.

Drivers who registered with the ride-hailing and delivery app between 2010 and 2016 will get 4,000 GoTo shares, equivalent to $94 based on the IPO price of 338 rupiah. Those who registered from 2017 to February will get 1,000 shares, part of a total pool of more than $20 million allocated for drivers, according to a statement on Monday.

GoTo, formed through the merger of Gojek with e-commerce pioneer ...