New IDX ruling on multiple voting rights, more young investors spell good news for Indonesian tech IPO aspirants
But challenges includes Indonesian market's relatively low capital base, investors wary of non-profitable companies
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Jakarta
WITH several startups looking to list on the Indonesian Stock Exchange (IDX) in the coming months, the announcement by the country's Financial Services Authority to allow multiple share holding rights for certain shareholders could not have been more timely.
The ruling - along with other expected changes including tax incentives and allowing unprofitable firms to list - is squarely aimed at tech companies such as GoTo, OVO, Traveloka and BliBli, all of which are eyeing a listing in the near future.
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