Companies have always been able to raise finance through non-public securities offerings. On 30 December 2022, the Financial Services Authority has enacted Circular 33, which introduces new requirements in relation to non-public securities offerings.*
In brief, Circular 33 introduces:
- additional criteria for non-public securities offerings;
- new rules relating to the eligibility of the parties able to conduct a non-public securities offering;
- new rules relating to the documents and information memorandum required for a non-public securities offering;
- submission procedures for non-public securities offerings.
Parties wishing to carry out a non-public securities offering must apply to the Financial Services Authority. The Financial Services Authority may request any amendments and/or additional information to supplement the application documents, to a deadline. We would be happy to advise you on your non-public securities offering.
*Circular of the Financial Services Authority of The Republic of Indonesia Number
33/SEOJK.04/2022 of 2022 On Guidelines For The Implementation of Securities
Offerings Classified As Non-Public Offerings
