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Report: Indonesian exchange to revamp listing rules to attract more tech IPOs

Briefing
Your roundup of Asian tech and startup news that matter

Deepti Sri · 1 Jul 2021 · 1 min read

Report: Indonesian exchange to revamp listing rules to attract more tech IPOs

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“Indonesia is close to finalizing a sweeping revamp of listing rules, paving the way for Southeast Asian startup giants, from Bukalapak to ride-hailing leader GoTo, to go public from August,” reported Bloomberg.

Details:

The authorities at the Indonesia Stock Exchange (IDX) are finalizing a set of new regulations that will allow companies to list themselves, with multiple classes of shares carrying different voting rights.
Firms will benefit from a relaxation of curbs on loss-making companies, among the other new rules. Online marketplace Bukalapak and GoTo, the merged entity between Gojek and Tokopedia, will be among the first to leverage the new regulations.

Context:

The development comes amid a rush for initial public offerings among Southeast Asian startups, many of which are looking to list in the US.
Bukalapak is set to list on the Indonesia Stock Exchange (IDX) on July 29. It started the book-building process and roadshow on June 28.

Editing by Collin Furtado and September Grace Mahino

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