Iqbal Darmawan, Author at Global Compliance News

Iqbal Darmawan

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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.

In Asia-Pacific

Indonesia: OJK’s Further Clarification on Share Buyback Procedures Amidst the Coronavirus Outbreak

April 16, 2020 by Iqbal Darmawan and Indah Respati 3 Mins Read

Recent Developments In a previous client alert we discussed the Financial Services Authority (OJK)’s latest policy to allow public companies to conduct buybacks of shares without a prior GMS. That became effective as of the issuance of Circular Letter No. 3/SEOJK.04/2020 (SEOJK 3) on 9 March. On 16 March, OJK…

In Asia-Pacific

Indonesia: Conducting Shareholders Meetings for Public Companies in Light of COVID-19

April 16, 2020 by Iqbal Darmawan and Indah Respati 5 Mins Read

Recent Developments On the day the Indonesian government declared the COVID-19 outbreak a “national disaster” under Law No. 24 of 2007 on Mitigation of Disasters (i.e., on 6 March), it released various protocols in an attempt to manage the spread of COVID-19 in Indonesia. The Presidential Staff Office and various…

In Asia-Pacific

Indonesia: OJK Now Allows Share Buybacks Without Prior GMS Approval Amidst the Coronavirus Outbreak

April 2, 2020 by Iqbal Darmawan and Indah Respati 4 Mins Read

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…

In Asia-Pacific

Indonesia: OJK Now Requires Independent and Unaffiliated Shareholders’ Approval for Public Companies’ Non-Preemptive Rights Issuances

July 8, 2019 by Iqbal Darmawan, Indah Respati, Ken Prasadtyo and Vera Sihombing 3 Mins Read

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…