Indonesia’s financial and capital markets regulator, Otoritas Jasa Keuangan OJK, has approved new regulation allowing the listing of shares with multiple voting rights MVR on the country’s stock exchange IDX.
OJK is hoping the new rules will entice the wave of homegrown unicorns companies valued at over $1 billion that have emerged in recent years to choose IDX as a listing destination.
“It was initially suggested that the regulation which allows MVR be an amendment to I-A Regulation issued by IDX, but it turned out to be an OJK regulation. This means that the provision has a stronger legal standing than it was initially...
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