OJK (Otoritas Jasa Keuangan)

Definition

Indonesia's financial services authority, regulating banks, capital markets, and fintech, including the Indonesia Stock Exchange (IDX) where GoTo — the country's largest listed tech group — trades.

Why it matters for a secondary

OJK's rules around IDX-listed companies are the backdrop for continuation-vehicle and secondary activity building under Indonesian tech names as they mature from private to public, GoTo being the clearest example.

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How it works in practice

OJK is Indonesia's integrated financial services authority, supervising banking, capital markets and non-bank financial institutions, including the equity crowdfunding framework that created a licensed route for private-share offerings. Private company transfers otherwise follow company law and, for foreign buyers, the investment regime.

A concrete illustration

An Indonesian technology company's early shareholders sell to a regional fund. The transfer is executed under company law, while the foreign buyer's position is shaped by the investment rules applying to that sector — and any platform intermediating the process needs to be licensed by OJK.

What people most often get wrong

Indonesia's constraint for foreign buyers is usually the sector-specific investment rules rather than securities regulation. Establish whether the sector permits the intended ownership level before negotiating price, because the answer can require a local partner.