FSA drafts new IPO regulation for miners
Friday, March 14 2014 - 01:41 AM WIB
The Financial Services Authority (FSA) is currently drafting a new regulation, which among others will allow mining firms still in exploration stage to launch initial public offering (IPO) and list their shares in the stock exchange, reports said on Friday.
Director of the Indonesia Stock Exchange (IDX) Hoesen said that the draft will discussed with the industry players within the next 1-2 weeks to gather inputs.
Under the planned new regulation, miners still in exploration stage would be allowed to launch IPO as long as they can provide proven reserves document, normally in the form of JORC report.
The miners will also be required to submit business plans to allow the IDX to properly monitor the miners? progress. They must also already obtained the production mining license. (*)