OJK Circular Letter No. 25/SEOJK.04/2025

We are pleased to share our latest Client Update on the newly enacted OJK Circular Letter No. 25/SEOJK.04/2025. This regulation marks a significant shift in the Indonesian Public Offering landscape, replacing the previous SEOJK 15/2020 to provide greater legal certainty and investor protection.

Our key takeaways:
– Expanded IPO Categories: The framework expands from four to five categories, offering more tailored structures for small-scale issuers.
– Balanced Allocation: The retail vs. non-retail pooling allocation ratio has been adjusted to 1:1, ensuring broader share ownership among retail investors.
– Underwriters Diligence: Underwriters are now required to verify the financial documents of fixed allotment investors, such as bank statements from the last 3 months.

You are more than welcome to check out our latest article for a detailed breakdown at this link