Mr Novario Asca Hutagalung

Novario Asca Hutagalung

Updates

Capital Markets

New framework to establish Securities Finance Agency introduced
Indonesia | 12 February 2019

The Financial Services Authority recently issued a new regulation which provides a framework to establish the Securities Finance Agency (SFA). The agency aims to boost transaction volumes and liquidity in the Indonesian stock market, particularly by encouraging margin trading and short selling. Upon its establishment, the SFA will provide securities financing to brokerage firms.

New OJK regulation on rights issues
Indonesia | 01 March 2016

A new regulation on rights issues was passed by the Financial Services Authority in December 2015. The regulation introduces key changes relating to rights issue approval, effective statements, non-cash capital injections, announcements and company and shareholder requirements, and is intended to provide investors with more flexibility and ease when conducting rights issues.

Corporate Finance/M&A

Exemption from mandatory tender offer requirement for tax amnesty participants
Indonesia | 12 October 2016

The Financial Services Authority recently showed its support for the government's tax amnesty programme by issuing a circular letter regarding mandatory tender offers as a result of public company acquisitions. The circular letter exempts any investor that has become the controller of a public company through an acquisition from the obligation to conduct a tender offer and is meant as an incentive for investors that control public companies through nominees to participate in the programme.