W&P – Indonesia’s Multiple Voting Shares system to Boost Company Listing

Mr. Hans Adiputra Kurniawan, a capital market partner of the firm, contributes in an article of IFLR, where he discusses the ‘new’ voting shares class system by OJKR 22/2021, allowing eligible companies to issue shares with multiple voting rights through an initial equity public offering process (IPO); practically enabling the existing controlling shareholder to retain control of the company after the IPO by holding MVS. This is a breakthrough from the traditional voting shares class system, where each share is issued either with one voting right or with no voting right.

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