Asian Tech Press (Dec 17) -- Indonesia's biggest tech group GoTo has hired two banks to manage its $1 billion IPO, Bloomberg reported on Friday.

Citing sources, the report said that Goto has picked PT Mandiri Sekuritas and PT Indo Premier Sekuritas as underwriters for a local IPO that could happen as soon as next quarter.

GoTo is the merger of two of Indonesia's leading technology companies, ride-hailing and payments firm Gojek and e-commerce leader Tokopedi, and has become the country's largest technology company by market capitalization.