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Nov

24

IPO for Companies Involved in Legal Cases

Every company has the opportunity to conduct an initial public offering (IPO) and list its securities on the Indonesia Stock Exchange (IDX). In the context of an IPO, the company will issue a document called a prospectus, which is a document that contains any written information related to the public offering process that the company is carrying out with the aim to disclose everything about the company to the public before they decide to buy securities. The form and content of the prospectus in the context of a public offering have been regulated in the Financial Services Authority (OJK) regulations.

In the prospectus, the company is required to publish detailed information or material facts regarding the public offering and data or information that may influence the investors’ decisions. The prospectus is prohibited from containing untrue information about material facts so that it does not provide a misleading picture. Important and relevant information is disclosed in the prospectus, including legal opinions by legal consultants registered with the OJK, such as disclosure of important and relevant cases, civil or criminal claims, as well as other legal actions concerning issuers and subsidiaries, members of the board of directors or members of the board commissioner (if any).

Legal issues in a company are quite diverse, they will be given a legal opinion by a legal consultant who is authorized to provide it. The prospectus is part of implementing good corporate governance for companies raising funds through the capital market. Given the importance of the prospectus, investors who want to buy securities must read the prospectus issued by the company.

Currently, the stock IPO process has been carried out through the Electronic Indonesia Public Offering system. Companies that are in the process of a public offering of shares and have obtained publication permission from the OJK, can find this information on the e-IPO website. The company must upload the initial prospectus, summary prospectus and final prospectus. Investors who place orders through the e-IPO system shall also have read the prospectus. This is intended so that investors can study and consider all aspects of the company before buying the securities issued by the company.

If the company is already in the pipeline and is then subject to legal action, the IDX may request an explanation first, including a description of the impact, the company’s efforts to resolve it and other relevant information, including requesting an explanation from a legal consultant. To protect investors, the IDX may ask the prospective listed company to disclose important or material information that may affect the company’s business continuity or investors’ decisions in the prospectus. In the event that the problem has an impact that can disrupt the company’s operations or business continuity, the stock exchange may ask the company to postpone the IPO and resolve the matter first.

Should you wish to carry out these legal services with the help of our expert capital market lawyer, please drop us an email at info@schinderlawfirm.com.

Author: Dewi Susanti

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Dear valued Visitor,

Data is a valuable currency in this new world. In the midst of digital transformation, the Indonesian government has taken the final decision to pass the Pelindungan Data Pribadi (PDP) Bill by September 2022. The PDP Law applies to all businesses established in Indonesia and puts the consumer in control. The task of complying with this regulation falls upon businesses.

The PDP Law affects a variety of business operations, including how your sales team prospect and how marketing initiatives are managed. Businesses have had to reassess their business procedures, applications, and forms. Additionally, all businesses that work with personal data should designate a Data Protection Officer (DPO) or data controller to oversee PDP compliance.

In line with this spirit, it gives us great pleasure to announce and share with all our esteemed clients and business associates that Schinder Law Firm is prepared to assist your company to understand the impacts of the Personal Data Protection Law (PDPL) and take the required measures to comply with the law. Our Privacy, Data Protection, and Cybersecurity practice group is a pioneer in providing data privacy law services in Indonesia. Personal data protection services include but are not limited to:

  • Assessing the existing systems, processes, and controls, etc.
  • Providing provide gap assessment on the existing systems, processes, and controls, etc.
  • Developing and ensuring contracts and agreements comply with the PDP Law
  • Developing policies, best practices, and procedures
  • Advising on the security of personal data and managing data breaches
  • Acting as the Data Protection Officer (DPO) and advising upon the appointment, role, and responsibilities of a data protection officer
  • Advising on cross-border transfers of personal data
  • Carrying out data protection impact assessments and data protection audits
  • Recommending other necessary corrective actions in order to comply with the PDP Law
  • Training on the PDP Law tailored to clients’ businesses

We look forward to many more opportunities in the year ahead with your continued support and trust. For consultation, please send us a WhatsApp or Email.

Warmest regards,
Naz Schinder
Managing Partner

Keep Up with the New Law in Indonesia: Personal Data Protection

  • Assessing the existing systems, processes and controls, etc.
  • Providing provide gap assessment on the existing systems, processes and controls, etc.
  • Developing and ensuring contracts and agreements comply with the PDPL.
  • Developing policies, best practices and procedures.
  • Advising on security of personal data and managing data breaches.
  • Acting as the Data Protection Officer (DPO) and advising upon the appointment, role and responsibilities of a data protection officer.
  • Advising on cross-border transfers of personal data.
  • Carrying out data protection impact assessments and data protection audits.
  • Recommending other necessary corrective actions in order to comply with the PDPL.
  • Training on the PDPL tailored to clients’ businesses.
Privacy, Data Protection and Cyber Security
We help our clients to understand the impact of the Personal Data Protection Law (PDPL) on their companies and take the required measures to comply with the law.