The exclusion, effective at the end of the month, marks a significant retreat for the ride-hailing and e-commerce platform. Shares have remained locked at the minimum tradable price of 50 rupiah since May, failing to generate the liquidity required to satisfy index-tracking investors. This technical adjustment by MSCI mirrors a similar decision made by FTSE Russell earlier this year, signaling deep-seated investor caution regarding the stock's long-term viability.
Management at GoTo characterizes the delisting as a mechanical byproduct of share price performance rather than an indictment of their core business operations. While the company maintains active dialogue with index providers, the shift highlights the broader volatility currently gripping Indonesia’s equity markets. As MSCI recalibrates its portfolio by shuffling various entities, GoTo must now navigate a landscape where institutional support has significantly thinned.
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