Indonesia’s GoTo Braves Choppy Markets With $1.1 Billion IPO Plan

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Indonesia’s biggest startup filed to go public, seeking a valuation of nearly $30 billion in a deal that will test market appetite for new listings of emerging-market technology stocks.

GoTo Group offers ride-hailing, e-commerce and financial services in the world’s fourth-most populous nation, and counts Alphabet Inc.’s Google, Tencent Holdings Ltd. and Singapore’s Temasek Holdings among its backers.

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