Indonesia Stock Exchange to allow SPACs

Bourse hopes homegrown unicorns will go public locally. (File pic shows a statue of a bull in front of an electronic board displaying stock prices outside the Indonesia Stock Exchange (IDX) in Jakarta.)

JAKARTA: The Indonesia Stock Exchange (IDX) plans to win over local tech unicorn listings by relaxing its rules this year after it was reported that three such companies were considering listing abroad.

IDX development director Hasan Fawzi said the bourse would pass regulations by July that would allow companies to go public using special-purpose acquisition companies (SPAC) and to issue dual-class shares, both of which have been hot topics among tech start-ups worldwide.