JAKARTA : Indonesia's Financial Service Authority has issued rules on listing of technology companies' shares with multiple voting rights, aimed at attracting more initial public offerings to its domestic exchange, the regulator said in a statement on Tuesday.
Authorities have been trying to lure such companies, including GoTo Group - a merger of ride-hailing app Gojek and e-commerce giant Tokopedia - and travel app Traveloka to list domestically. Under the new rules, which came into effect on Dec. 1, companies seeking shares with multiple voting rights must meet criteria such as operating for at least three years and recording at least 30per cent annual revenue growth over three years.
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