VIVAnews - The Indonesian Stock Exchange (IDX) has proposed a draft regulation on dual listing to the Indonesia Capital Market and Financial Institution Supervisory Agency (Bapepam-LK).
In the regulation, other state enterprises may enlist their shares in the IDX if they meet the criteria set by IDX authorities. It is expected that the regulation will be enacted in 2009.
"The draft is still being revised by Bapepam," Director of Listing at IDX Eddy Sugito told VIVAnews in his short message on Wednesday, Dec 3.
Eddy went on to say that principally, IDX lists foreign companies' shares as long as they meet the criteria. The criteria aimed at foreign companies have been laid down in the draft.
Director of Share Trading, Research and Business Development MS Sembiring said that the criteria for foreign companies are being prepared. IDX will make sure that foreign companies listed in the stock exchange are verified and investors can comprehend the companies' performance.
"For instance, Iran decided to set out dual listing with IDX. It is of course impossible to make a financial report using Persian language," he said. He hoped that the dual listing regulation will be enacted in 2009.
Earlier, Malaysian and Tehran Stock Exchanges had intended to set up dual listing with IDX. The attempt is in line with quite large potentials that each country has.
Translated by: Bonardo Maulana Wahono
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