On 14 March 2017, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued OJK Rule No. 7/POJK.04/2017 on registration statement documents in public offerings of equity securities, debt securities or sukuk (“OJK Rule No.7”). OJK rule No.7 replaces Bapepam-LK Rule No. IX.C.1.
The key changes introduced by OJK Rule No.7, more fully summarised in this bulletin from our team in Jakarta and Singapore, include:
-
No preliminary listing agreement required for OJK submission
-
Simultaneous process for offering more than one type of securities, and
-
Simplified legal due diligence.
Disclaimer
Herbert Smith Freehills LLP has a Formal Law Alliance (FLA) with Singapore law firm Prolegis LLC, which provides clients with access to Singapore law advice from Prolegis. The FLA in the name of Herbert Smith Freehills Prolegis allows the two firms to deliver a complementary and seamless legal service.