Analisis Hukum terhadap Implementasi Prinsip Good Corporate Governance (GCG) pada Prosedur Backdoor Listing di Pasar Modal Indonesia

Abstract

Backdoor listing is a method used by private companies to become public companies without going through the Initial Public Offering (IPO) process. This process is carried out by acquiring or merging with a public company that is already listed on the stock exchange, so that the private company can automatically obtain status as a public company. This research highlights the importance of implementing Good Corporate Governance (GCG) principles in backdoor listing procedures, considering that this process is often riskier than the IPO process. This research aims to reduce and analyze problems regarding the position of backdoor listings as an alternative way for market players to avoid an IPO based on capital market law in Indonesia, the urgency of GCG principles being applied in the implementation of backdoor listing practices and the application of GCG principles in several backdoor listing practices. occurred in the Indonesian capital market. This thesis research uses normative legal research methods using secondary data in the form of primary, secondary and tertiary legal materials. Data was collected through library research and analyzed normatively-qualitatively. Backdoor listing was carried out as an alternative because the public offering process was considered complicated. By acquiring or merging with a public company, a private company can become a public company without having to go through the IPO route. Even though backdoor listing is a legal and effective alternative to going public without strict supervision, there is a big risk of deviation from GCG principles. Therefore, more specific regulations and more intensive supervision from the relevant authorities are needed to ensure that each stage of the backdoor listing procedure is carried out in accordance with GCG principles. Thus, it is hoped that the implementation of GCG in the backdoor listing procedure can improve the integrity of the Indonesian capital market and protect the interests of all stakeholders.