Some of Initial Listing Requirements to become a Listed…
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Some of Initial Listing Requirements to become a Listed Company in the Main Board of Development Board

Listed Company is a compan that has carried out public offering and has been registered in Indonesian Stock Exchange. Generally, Listed Company is more known with the word of Issuer.

According to Decree Letter of PT Bursa Efek Indonesia’s Board of Director Number: KEP-00183/BEI/12-2018 Regarding the Amendment of Regulation Number I-A regarding Listing of  Shares and Equity-Type Securities Other Than Shares issued by the Listed Company Candidate, some of the initial requirement for the Listed Company Candidate which shall list its shares in the Main Board or the Development Board are as follows:

  1. Legal entity in the form of Limited Liability Company (PT);

  2. The Registration Statement submitted to the Financial Service Authority (OJK) has been effective;

  3. In the event the Listed Company Candidate is a subsidiary or mother company of Listed Company which results in a consolidated financial report, then the Listed Company Candidate is obliged to submit documents regarding whether the folllowing conditions are fulfilled or not:

  • In the event of termination of affiliation relation, each company capable to carry out its operational activity properly based on appraise of a registered Appraisal in OJK; and

  • According to the Listed Company's pro forma financial reports that has been audited by a Public Accountant registered in OJK (without consolidation), the Listed Company is still able to meet the Listing requirements.

  • The share’s price during the initial listing must be at least Rp100.00 (one hundred Rupiah);

  1. If there’s a plan to issue a warrants simultaniously with the shares initial listing, then the warrant’s right implementation price is stipulated to be at least 90% (ninety percent) from the shares offering price or initial price and at least the same with the nominal price.

  2. Listed Company Candidate who will carry out initial public offering is obliged to make an underwriting agreement in the framework of a public offering in the form of full commitment.

  3. Listed Company Candidate is obliged to register Equity-Type Securities in PT Kustodian Sentral Efek Indonesia (KSEI).

Further requirements for each Listing Board shall be discussed in the subsequent article.

Suria Nataadmadja & Associates Law Firm

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