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

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.