The Indonesian Stock Exchange (IDX) expects to win over local tech unicorn listings by relaxing its rules this year after it was reported that three such companies were considering listing overseas. IDX development director Hasan Fawzi said the course would go through rules by July that would allow companies to go public using special purpose construction companies (SPACs) and issue two-class shares, which both have been hot topics among tech beginners around the world. “The nature of these new types of economies is different from traditional companies, so we have to expect them to be interested in going public,” he told the Jakarta Post on Wednesday, March 3, refers to technical startups such as fintechs and e-commerce platforms. SPAC is a shell company that raises money through an initial public offering (IPO) for the same purpose of acquiring another company. Since SPACs are …
