What's the Detail on Multiple Voting Shares Regulation?

By Editorial Team 08/12/2021
IPO business process
Summary

The Financial Services Authority (OJK) officially issued Financial Services Authority Regulation (POJK) No. 22/POJK.04/2021 on classifying shares with multiple voting rights (SHSM) or multiple voting shares (MVS). Citing an official statement on Tuesday, this regulation accommodates technology companies such as unicorns and decacorns to list their securities on the Indonesia Stock Exchange.

In detail, the latest OJK regulation stipulates the application of shares with multiple voting rights, i.e., one share grants more than one voting right to shareholders who meet certain requirements. OJK reasoned that the purpose of regulating the multiple voting shares (MVS) is to protect the company's vision and mission, following the goals of the founders in developing business activities run by the company.

*OJK Regulation No. 22/POJK.04/2021 can be downloaded at the end of this article.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.