Strengthening The Capital Market, OJK Requires Underwriters To Conduct Complete Tests

Chief Executive of the Capital Market Supervisory, Derivative Finance, and Carbon Exchange of the Financial Services Authority (OJK) Inarno Djajadi. (Photo: ANTARA)

JAKARTA - Chief Executive of the Capital Market Supervisory, Derivative Finance, and Carbon Exchange of the Financial Services Authority (OJK) Inarno Djajadi said that his party continues to be committed to improving the quality and quantity of issuers who will be listed on the Indonesian capital market.

"Through several regulations, for example in June 2025, OJK has issued POJK No. 13/2025, which among other things regulates the obligations of underwriters to conduct due diligence on issuers before issuers submit registration statements to OJK," he said at a press conference, Thursday, September 4.

In addition, he conveyed that the OJK was reviewing the improvement of several provisions related to the public offering process, including simplifying procedures to be more adaptive to market dynamics and the needs of business actors.

According to him, this regulatory reform is expected to accelerate the IPO process and increase investor confidence, both domestically and globally.

However, he conveyed that from the latest pipeline IPO, he could not provide certainty about the IPO lighthouse which will be present at the end of this year and what sector will be involved.

Inarno said that currently there are 10 prospective issuers who are in the process of being examined by the OJK with a total emission value estimated at IDR 5.3 trillion.

"This number is believed to continue to grow, considering that the average financial statements for the June period, which were thoroughly audited, were carried out optimally in September," he said.

He explained that financial reports with the June cut-off will usually be used by issuers as registration statement documents that have a period of 6 months to be able to obtain effective from the OJK, namely in December.