Guidelines for Securities Offerings Classified as Non-Public Offerings Exceeding Rp. 5 Billion Introduced

Pursuant to Regulation of the Financial Services Authority (Otoritas Jasa Keuangan - “OJK”)  No. 29/POJK.04/2021 (“Regulation 29/2021”) on Securities Offerings Classified as Non-Public Offerings (collectively referred to as “Non-Public Offerings”),[1] the OJK may determine thresholds that are higher than Rp. 5 billion for Non-Public Offerings that meet certain criteria.[2] In order to provide a set of guidelines for Non-Public Offerings of over Rp. 5 billion, the OJK has issued Circular No.  33/SEOJK.04/2022 (“Circular 33/2022”), which has been in force since 30 December 2022.[3]