OJK capital market division deputy commissioner Justini Septiana said in Jakarta on Wednesday that the current OJK regulations only facilitated small and medium-sized companies — companies with assets of between Rp 50 billion (US$3.57 million and Rp 250 billion — to launch an initial public offering (IPO) and list their shares on the IDX.

“Our current regulations only ease listing requirements but it is unfair for them because they still have to fulfill the same kind of obligations as their bigger and more professional counterparts in other activities,” she said during her speech at a seminar at the IDX building in Jakarta.

For this reason, Justini said the OJK was working on a new regulation that would ease requirements for listed SMEs regarding the issuance of financial reports and incidental reporting on unusual activities that could affect prices.

While they may be considered insufficient, the current regulations have encouraged a number of SMEs to list their shares on the IDX.

“Nine small and medium-sized firms have listed their shares since 2019,” OJK director of financial assessment I Made Bagus Tirthayathra said during the seminar.

He said eight of the companies were listed on the IDX in 2019, while one other, online travel agent PT Tourindo Guide Indonesia, listed its shares on Wednesday, becoming the first company to list its shares in 2020 and also the first to be included on the IDX’s new special acceleration board.

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