Indonesia's SPAC Rules Coming Soon, Which Unicorns Are Interested?

The Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX) have completed a technical study on the plan to implement a Special Purpose Acquisition Company (SPAC) in the Indonesian capital market. Authorities have also mapped out the legal aspects and the additional legal infrastructure needed to realize the implementation.

IDX Assessment Director I Gede Nyoman Yetna said that OJK and IDX are discussing things that need to be done to protect investors if SPAC is actually implemented. So far, companies have had to develop themselves before listing shares on the stock exchange. "We carried out a study with the OJK last year, including mapping out what legal issues or legal supports are needed," Nyoman said.