Editor’s note: Updated with comments from Gojek’s Co-Founder and CEO Kevin Aluwi

Indonesia’s largest tech firm GoTo Group is looking to raise up to 17.992 trillion rupiah ($1.25 billion) through an initial public offering (IPO) this month, Reuters reported on Tuesday.

GoTo, a merger of ride-hailing giant Gojek and e-commerce firm Tokopedia, said it plans to sell up to 52 billion Series A shares in the Indonesia Stock Exchange and set a price range of 316 to 346 rupiah per share, the company said in its prospectus. The book-building process ends on March 21 and the estimated listing date is April 4, according to the report.

The IPO also comes after GoTo secured more than $1.3 billion from investors including Abu Dhabi Investment Authority and Fidelity International last year in a pre-IPO funding exercise.

“Taking our company public has been our dream since Gojek started more than 10 years ago, and we are incredibly happy to share that today we announced GoTo Group‘s plans to carry out an initial public offering (IPO) on the Indonesia Stock Exchange. This marks a historic moment for us, and for Indonesia’s stock market and tech sector. Together, we look to show the world Indonesia’s potential to build global, world-class companies,” Gojek Co-Founder and Chief Executive Officer Kevin Aluwi said.

“I am equally excited to share our intention to launch the ‘Gotong Royong’ Share Program, through which our driver-partners, merchants, and consumers will have the opportunity to benefit from our IPO and continue growing with us,” he said in a LinkedIn post on Tuesday.

The Jakarta-based firm counts China-based e-commerce giant Alibaba Group, Chinese tech giant Tencent, Japan’s investor SoftBank Group Corp, Singapore sovereign wealth fund GIC among its backers.

GoTo, a merger of Indonesia’s two most valuable Internet start-ups, could launch a local IPO in the first half this year, followed by a listing in the US, Reuters earlier reported.

GoTo was formed through the merger Gojek and Tokopedia in May last year. Grab, its competitor in Southeast Asia operating ride-hailing and payment business, was listed in the US late last year.

In August last year, e-commerce firm Bukalapak raised $1.5 billion in the country’s biggest-ever IPO.

Indonesia’s GoTo said to appoint banks for $1B local IPO – report