KONTAN.CO.ID - JAKARTA. Indonesia's stock exchange (IDX) has relaxed requirements for companies seeking to launch initial public offerings (IPOs), in an attempt to encourage more listings by startups. The change came as authorities seek to persuade the likes of GoTo Group, created through the merger of ride-hailing app Gojek and e-commerce company Tokopedia, to launch IPOs at home. The IDX said it had relaxed rules that previously required a minimum of 100 billion rupiah (US$7 million) in net tangible assets and at least one year of profit to be able to launch an IPO directly on the main board at the bourse.
Indonesia Stock Exchange Eases Rules to Attract Tech IPOs
KONTAN.CO.ID - JAKARTA. Indonesia's stock exchange (IDX) has relaxed requirements for companies seeking to launch initial public offerings (IPOs), in an attempt to encourage more listings by startups. The change came as authorities seek to persuade the likes of GoTo Group, created through the merger of ride-hailing app Gojek and e-commerce company Tokopedia, to launch IPOs at home. The IDX said it had relaxed rules that previously required a minimum of 100 billion rupiah (US$7 million) in net tangible assets and at least one year of profit to be able to launch an IPO directly on the main board at the bourse.