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Indonesia Stock Exchange eases rules to draw more IPOs

Attracting local tech listings gains urgency amid competition with U.S. bourses

A man walks past trade monitors outside the Indonesia Stock Exchange in Jakarta on Feb. 2. The country's financial authorities want more local tech companies to go public.   © EPA/Jiji

JAKARTA -- The Indonesia Stock Exchange has relaxed rules for new listings as the bourse aims to attract more companies seeking to go public, including those in the country's booming tech sector.

The decision comes less than a month after the Financial Services Authority, or OJK, announced a new regulation that allows tech companies to issue multiple voting shares -- which have varying levels of voting rights -- when conducting an initial public offering on the exchange. The latest move is part of attempts by financial authorities to lure more promising companies and investors into the country's capital market.

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