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The OJK approved MUFG’s planned purchase of Asia Financial’s stake of 20.1 per cent in Danamon.
Pertamina wants to divest to help maintain its long-term financial condition, and to avoid risking too much in any one particular asset class.
A Jakarta court ruled in favor of Tjokrosaputro in November 2017, ordering the U.S firm to return shares and pay $22.07 million in compensation.
Tik Tok is operated by venture-capitalist backed Toutiao, one of China’s fastest-growing technology startups valued at over $30 billion.
In February, Indonesia became the first Asian country to sell “green” bonds internationally in a $1.25 billion deal.
Minister of Communications and Information Rudiantara said the fund, which would be pooled from Indonesian conglomerates, was supported by his ministry, with its structure currently being discussed with the country’s financial regulators (OJK).
The company has already raised 800 billion rupiah in convertible bonds, which will be converted to shares upon listing.
It is operated by venture-backed Toutiao, valued at more than $30 billion, that is one of China’s fastest-growing tech start-ups.
Inarno Djayadi, who was confirmed as CEO at an IDX shareholders’ meeting on Friday, told a press conference he wanted the exchange to reach 40 new company listings by 2020.
Chinese tech firms, including Lazada’s top investor, Alibaba Group Holding, have poured at least $6 billion into nearly every aspect of Indonesian e-commerce.