GoTo Gojek Tokopedia (IDX:GOTO) faces possible removal from MSCI's indexes after its shares remained stuck at the 50 rupiah minimum price for about three months, limiting trading liquidity, Bloomberg News reported Wednesday.

MSCI is expected to decide on the Indonesian ride-hailing and food delivery company's index status in its review on Wednesday, following concerns from asset managers over their ability to trade the stock. GoTo accounted for about 4% of the MSCI Indonesia Index at the end of July, meaning its removal could create further pressure on Indonesia's already weak stock market, according to the report.

MSCI had frozen changes to GoTo's index inclusion in May, citing concerns over the stock's low liquidity and the ability of investors to replicate the index.

The company has explored measures including a reverse stock split and announced share buybacks of up to 3.5 trillion rupiah ($196 million) to support its share price. The company has posted two consecutive quarterly profits following years of losses, though competition and higher costs continue to weigh on its outlook, the report said.

GoTo did not immediately respond to MT Newswires' request for a comment.

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