TEMPO.CO, Jakarta - The global index provider Morgan Stanley Capital International (MSCI) has raised concerns about the liquidity of PT GoTo Gojek Tokopedia Tbk (GOTO) stock. In its announcement, MSCI stated that it would freeze the adjustment or rebalancing of the GOTO stock.
MSCI noted that the stock price has been trading at Rp50 per share since the close of trading on May 13, 2026. "MSCI will freeze any changes in the number of shares (NOS), Foreign Inclusion Factor (FIF), Domestic Inclusion Factor (DIF), constraint factors as well as additions and deletions for this security in the MSCI Indexes as part of the May 2026 Index Review," MSCI wrote in its announcement on Tuesday, May 26, 2026.
This treatment applies to the Global Investable Market Index, as well as non-market capitalization-based indexes such as the MSCI Factor, Sustainability & Climate, Thematic, and Capped Indexes. MSCI will further review GOTO stock in the August 2026 review.
Currently, GoTo is still included in the MSCI Global Standard Index. However, GOTO's stock is at risk of being removed if it fails to meet the requirements. "MSCI will further review the liquidity of this security, in line with the MSCI Global Investable Market Indexes methodology as part of the August 2026 Index Review and would delete PT GoTo Gojek Tokopedia Tbk if it fails the relevant liquidity requirements at that time," MSCI wrote.
At the close of trading on Friday, May 29, 2026, GOTO's stock price remained at the Rp50 level. Since the beginning of the year until May 29, 2026, the stock of the online motorcycle taxi app company has fallen by 27.54 percent.
GOTO itself plans to conduct a stock buyback worth up to Rp3.5 trillion. The company will propose the buyback at an Extraordinary General Meeting of Shareholders scheduled for June 18, 2026.
GOTO's management stated that this buyback aims to give the company more flexibility in managing its capital, including optimizing its capital structure. "Through stock repurchases, the company aims to reflect the true fundamental value of the company's stock performance," the management wrote in the disclosure of information on Friday, May 22, 2026.
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