Kamis, September 12, 2024

OJK Seeks Greater Transparency Through Revision of IPO Fund Usage Regulations

The Chief Executive of Capital Market Supervision at the Financial Services Authority (Otoritas Jasa Keuangan – "OJK"), Inarno Djajadi ("Chief Executive"), has affirmed that the OJK is set to improve the applicable regulatory frameworks on the use of funds that are raised via Initial Public Offerings ("IPO") that take place through the Indonesia Stock Exchange ("IDX"). In this regard, the Chief Executive has stated that improvements will focus on improved transparency regarding the reporting of fund utilization, particularly at the subsidiary level.
In his statement, the Chief Executive went on to explain that the revised Regulations should ensure greater consistency between details set out in prospectuses and the actual uses of IPO funds. In addition, procedures for changes to fund allocations will be refined. These adjustments will amend the existing framework of Regulation of the OJK No. 30/POJK.04/2015 on Fund Utilization Reporting, bringing Indonesia's capital markets into line with international standards and practices.
As of August 2024, Indonesia’s capital markets had raised Rp. 135.25 trillion, including Rp. 4.39 trillion from 28 new issuers. Meanwhile, the level of market capitalization reached Rp. 13.11 trillion, reflecting a 6.29% month-to-date ("MTD") and 12.34% year-to-date ("YTD") increase, with net foreign purchases totaling Rp. 28.77 trillion MTD and Rp. 27.73 trillion YTD. This growth pushed the Jakarta Composite Index (Index Harga Saham Gabungan/IHSG) to an all-time high of 7,670.73 on 30 August 2024, which represents an increase of 5.72% MTD and 5.47% YTD. _(ANT)

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The Chief Executive of Capital Market Supervision at the Financial Services Authority (Otoritas Jasa Keuangan – "OJK"), Inarno Djajadi ("Chief Executive"), has affirmed that the OJK is set to improve the applicable regulatory frameworks on the use of funds that are raised via Initial Public Offerings ("IPO") that take place through the Indonesia Stock Exchange ("IDX"). In this regard, the Chief Executive has stated that improvements will focus on improved transparency regarding the reporting of fund utilization, particularly at the subsidiary level.
In his statement, the Chief Executive went on to explain that the revised Regulations should ensure greater consistency between details set out in prospectuses and the actual uses of IPO funds. In addition, procedures for changes to fund allocations will be refined. These adjustments will amend the existing framework of Regulation of the OJK No. 30/POJK.04/2015 on Fund Utilization Reporting, bringing Indonesia's capital markets into line with international standards and practices.
As of August 2024, Indonesia’s capital markets had raised Rp. 135.25 trillion, including Rp. 4.39 trillion from 28 new issuers. Meanwhile, the level of market capitalization reached Rp. 13.11 trillion, reflecting a 6.29% month-to-date ("MTD") and 12.34% year-to-date ("YTD") increase, with net foreign purchases totaling Rp. 28.77 trillion MTD and Rp. 27.73 trillion YTD. This growth pushed the Jakarta Composite Index (Index Harga Saham Gabungan/IHSG) to an all-time high of 7,670.73 on 30 August 2024, which represents an increase of 5.72% MTD and 5.47% YTD. _(ANT)

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