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Iqbal Darmawan

Iqbal is the Head of the Capital Markets Practice Group. Iqbal has been involved in various capital market transactions, representing both issuers and banks/underwriters, in both equity and debt capital market. His work encompasses various sectors, including IT, plantations, healthcare, mining and transportation sectors. When representing issuers, Iqbal's work often also involves pre-IPO work. This includes assisting the issuer in putting in place the appropriate corporate and shareholding structures (which may include selling out or injecting new assets). Other than capital raising, over the years Iqbal has also been involved and led teams in doing most of the delisting and going private transactions in Indonesia. Iqbal has also been involved in debt issuance transactions, both USD and IDR denominations. Iqbal also regularly advises clients on various capital market issues such as disclosures, good corporate governance, related party and material transactions, and takeover issues.

Recent Developments On 9 March 2020, the Financial Services Authority (“OJK”) issued Circular Letter No. 3/SEOJK.04/2020 on Other Conditions Constituting Significantly Fluctuating Market Conditions Allowing for Buyback of Shares (“SEOJK 3”), essentially allowing public companies to buy back their shares without prior approval of a GMS. This regulation implements OJK…

The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) issued Rule No. 14/POJK.04/2019 on Amendment to Rule No. 32/POJK.04/2015 (“POJK 32/2015”) on Increase of Capital of Public Companies With Preemptive Rights (“POJK 14/2019”). The rule came into effect on 30 April, but a copy of this rule was only been…