Investment regulation - Indonesia
|Foreign shareholding in Indonesian companies|
|None, except in relation to banking, broadcasting and financing companies||Banks:|
Banks may only list up to 99% of their share capital, the remaining 1% must be owned by resident Indonesian investors.
Broadcasting Law 32/2002 paragraph 17 states that foreign investors cannot invest in private broadcasting companies unless for additional capital (issuance of new shares) and with a maximum of only 20% out of the total capital and consisting of at least 2 investors.
For financing companies the Foreign Ownership Limit is 85% of the paid-up capital.
|For all listed securities except shares in banking entities that are subject to final approval from BI||Once an investor holds 25% or more of the total outstanding shares (known as a "controlling shareholding") in a listed company, it is obliged to disclose whether there is an intention to complete a full takeover of the listed company. If there is such an intention, a tender offer process to acquire the remaining shares must be conducted. A tender offer is not required if the Controlling Shareholder can prove that there is no intention to execute a full takeover. BI approval is required by investors intending to exceed a 25% holding of shares issued by a bank.|
For details of the local domestic disclosure requirements, please refer to the Disclosure Requirements.