OJK Broadens Criteria for Securities Offerings Classified as Non-Public Offerings

The Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) has issued an updated legal framework for offerings that are not classified as public offerings (“ Non-Public Offerings ”), through the issuance of Regulation No. 29/POJK.4/2021 (“ Regulation 29/2021 ”). Previously, these matters were addressed under Regulation of the OJK No. 26/POJK.4/2020 (“ Regulation 26/2020 ”). Regulation 29/2021 has now been introduced in an attempt to adjust the value thresholds for Non-Public Offerings of securities in order to bring them into line with business developments and best practices in other countries. As a result, Regulation 26/2020 has now been repealed and replaced. [1]