Analisis hukum terhadap sistem penjatahan efek pada proses penawaran umum perdana (initial public offering) PT XYZ, TBK.

Sitorus, Rudy Kurniawan (2020) Analisis hukum terhadap sistem penjatahan efek pada proses penawaran umum perdana (initial public offering) PT XYZ, TBK. Masters thesis, Universitas Pelita Harapan.

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Abstract

Salah satu kegiatan yang menunjang dalam pembangunan perekonomian suatu negara adalah melalui pasar modal. Sejumlah peraturan terkait kegiatan pasar modal mengatur berbagai jenis perseroan yang melakukan penawaran saham, termasuk penjatahan saham. Adanya indikasi pelanggaran dalam sistem penjatahan efek pada proses penawaran umum perdana, memerlukan langkah yang tepat dari OJK dan BEI untuk bertindak dalam proses IPO sehubungan dengan pemesanan dan penjatahan efek suatu perusahaan yang melakukan IPO. Bentuk pelanggaran hukum dalam sistem penjatahan efek pada proses penawaran umum perdana (initial public offering) PT XYZ, Tbk, antara lain adanya perlakuan istimewa yang diberikan oleh penjamin emisi kepada pihak tertentu atau pihak yang terafiliasi dengan penjamin emisi. Perlakuan istimewa yang diberikan ialah memberikan jatah saham kepada pihak tertentu atau pemberian jatah efek kepada pihak terafiliasi, yang biasanya dilakukan ketika minat beli investor atas efek tersebut sedang melimpah. Selain itu, adanya mafia pooling yang bekerja sama dengan penjamin emisi efek (PEE) dan biro administrasi efek (BAE). PEE bertugas menginformasikan IPO yang dinilai bagus kepada mafia pooling, sementara BAE bertugas menginformasikan realisasi pemesanan yang masuk untuk penjatahan terpusat. Tindakan OJK dalam proses penawaran umum perdana (initial public offering) sehubungan dengan pemesanan dan penjatahan efek suatu perusahaan yang melakukan IPO yaitu melalui penerapan electronic book building dengan nama Sistem Penawaran Umum Elektronik (SPUE). Sedangkan Bursa Efek Indonesia (BEI) melakukan pemantauan ketat atas saham-saham yang mengalami pergerakan signifikan untuk menghindari munculnya saham-saham yang tidak wajar. / one of the activities that support the development of a country's economy is through the capital market. Several regulations related to capital market activities regulate various types of companies shares offering, including share allotment. Indications of violations in the allotment system in the initial public offering process requires appropriate steps from the OJK and IDX to act in the IPO process related to the booking and allotment of shares of a company which conducts IPO. The form of violation of the law in the securities allotment system in the process of the initial public offering of PT XYZ, Tbk, among others, special treatment given by the underwriter to certain parties or parties affiliated with the underwriter. The special treatment is by giving shares to certain parties or granting shares allotment to affiliated parties, which is usually done when investors' demand on such shares is oversubscribed. In addition, there is a mafia of pooling in who cooperates with the underwriter (PEE) and securities administration bureau (BAE). PEE has the duty to inform the IPO that is considered good to the mafia of pooing, while the BAE has the duty to inform the realization of incoming bookings for centralized allotment. OJK's action in the process of initial public offering (initial public offering) in connection with the ordering and allotment of securities of a company conducting an IPO is through the application of electronic book building under the name of the Electronic Public Offering System (SPUE). While the Indonesia Stock Exchange (IDX) closely monitors stocks that experience significant movements to avoid the emergence of unusual shares.

Item Type: Thesis (Masters)
Creators:
CreatorsNIMEmail
Sitorus, Rudy KurniawanNIM01659170051rudy_sitorus@hotmail.com
Contributors:
ContributionContributorsNIDN/NIDKEmail
Thesis advisorSihombing, JonkerNIDN0324024801jonker.sihombing@uph.edu
Uncontrolled Keywords: Stock Allotment, Initial Public Offering Process ; Capital Market ; Financial Services Authority ; Indonesia Stock Exchange
Subjects: K Law > K Law (General)
Divisions: University Subject > Current > Faculty/School - UPH Karawaci > Faculty of Law > Master of Law
Current > Faculty/School - UPH Karawaci > Faculty of Law > Master of Law
Depositing User: Rudy Kurniawan Sitorus
Date Deposited: 18 Aug 2020 02:05
Last Modified: 18 Aug 2020 02:05
URI: http://repository.uph.edu/id/eprint/10226

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