OJK Issues New Rule on IPO Lock-Up Period

Introduction On 21 June 2017, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued OJK Rule No. 25/POJK.04/2017 on Restriction on Shares Issued prior to Public Offering (“New Rule”). The New Rule replaces Bapepam Rule No. IX.A.6 as attached to the decision of the Chairman of Bapepam No. Kep-06/PM/2001 on Restriction on Shares…