OJK Revises Portion of e-IPO Share Allocation

The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) is currently drafting a Circular of OJK regarding the Provision of Order Funds, Verification of Fund Availability, Allocation of Securities for Centralized Allotment, and Settlement of Securities Orders in Electronic Public Offerings of Equity Securities in the Form of Shares (e-IPO). This regulation will later revoke the previous Circular of the Financial Services Authority No. 15 /SEOJK.04/2020 (“SEOJK 15/2020”) in order to ensure that the allocation of Securities for centralized allotment can be evenly distributed.

"Currently, it is in the stage of requesting responses from the public and related stakeholders," said Chief Executive for the Capital Market, Derivative Finance, and Carbon Exchange Supervision of OJK Inarno Djajadi to Hukumonline.

Based on the draft owned by Hukumonline, it is stated that the total value of interest and/or orders submitted by each prospective investor cumulatively is set not to exceed 10% of the total value of the Securities offered. Meanwhile, the allocation value of Securities for Centralized Allotment is divided into 5 public offering groups with the smallest amount being Rp10,000,000,000.