Department profile
Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills Kramer

Capital Markets

Asia-Pacific Guide 2026 : Indonesia


Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills Kramer

Rankings

About

Provided by Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills Kramer

Equity capital markets: We represent foreign arrangers and underwriters in Indonesia on both onshore and offshore components of capital markets offerings, and public M&A. We also represent major Indonesian companies as issuers. We act on IPOs, rights issues, private placements, block trades, re-IPOs and public M&A transactions.

Debt capital markets: Our debt capital markets practice covers the full range of debt capital markets transactions, including medium term bonds, government bonds, convertible bonds, exchangeable bonds, guaranteed bonds, high yield bonds, guaranteed bonds, subordinated bonds, and sustainable or “green” bonds.

Recent work highlights:

  • Amman Mineral Internasional in one of Asia's largest and most successful IPOs in 2023
  • CLSA, HSBC, Mandiri Sekuritas and Credit Suisse as underwriters in US$600 million IPO of Pertamina Geothermal Energy
  • Indo Premier Sekuritas, Trimegah Sekuritas Indonesia, UBS and Macquarie Capital as underwriters in US$600 million IPO of Merdeka Battery Materials
  • Credit Suisse, Morgan Stanley, BCA Sekuritas and BRI Sekuritas as underwriters in the US$500 million IPO of Global Digital Niaga (Blibli)
  • Credit Suisse, Deutsche Bank and CLSA as underwriters in US$1.1 billion IPO of Goto Gojek Tokopedia
  • Kookmin Bank on an IDR12 trillion (US$800 million) rights issue of Bank KB Bukopin
  • BofA Securities, Deutsche Bank, HSBC, JP Morgan and Credit Suisse as arrangers and underwriters of a switch tender offer by the Republic of Indonesia

Clients (15)

  • Amman Mineral Internasional Tbk
  • Barclays
  • BNI
  • BNP Paribas
  • BRI Danareksa
  • CIMB
  • Citigroup
  • CLSA
  • Goldman Sachs
  • Jefferies
  • Kookmin Bank
  • Mandiri Sekuritas
  • OCBC
  • Republic of Indonesia
  • UBS

Industries (8)

  • Agriculture and Agribusiness
  • Energy and Utilities
  • Financial Services
  • Industrials, Engineering and Manufacturing
  • Property, Construction and Infrastructure
  • Resources and Mining
  • Retail and Consumer
  • TMT

Chambers Review

Provided by Chambers

Capital Markets - Indonesia

Band 1

Band 1


What the Team is Known For

Hiswara Bunjamin & Tandjung has a respected capital markets law practice in Indonesia, receiving frequent instructions from global investment banks on bond offerings, as well as handling IPOs for international and Indonesian clients. The team is well versed in Regulation S and Rule 144A issuances and offers significant cross-border capability through its Herbert Smith Freehills Kramer association. The group is able to draw on expertise in sectors such as energy, financial services, consumer goods and TMT.

Work Highlights

Provided by Chambers

  • Hiswara Bunjamin & Tandjung acted as Indonesian counsel of Yupi and Sweets Indonesia on Yupi’s successful IPO, which involved the acquisition of all of Sweets Indonesia’s shares in Yupi by Affinity Equity Partners.

Strengths

Provided by Chambers

  • What differentiates HBT is not only their knowledge of capital market regulations, but also their ability to translate those rules into practical advice tailored to our company’s situation.

    Capital Markets respondentAsia-Pacific
  • The team has deep knowledge and understanding of transaction details, responds quickly and closely monitors the transaction progress.

    Capital Markets respondentAsia-Pacific
  • HBT stands out for its market knowledge, practical legal insight and consistent responsiveness.

    Capital Markets respondentAsia-Pacific

Notable Practitioners

Provided by Chambers

  • Band 2Tjahjadi Bunjamin
    Band 2Tjahjadi Bunjamin

    Tjahjadi Bunjamin

    Tjahjadi Bunjamin is well known in the Indonesian legal market for his knowledge of capital markets and banking transactions. He has experience in both IPO and bond issuances.
    • He is smart, humble, and possesses great knowledge, just a great partner to have!

      Capital Markets respondentAsia-Pacific
    • Pak Tjahjadi has provided seasoned advice, particularly in the area of capital markets. He brings both perspective and experience, enabling him to suggest practical solutions throughout the process.

      Capital Markets respondentAsia-Pacific
  • Band 2Viska Kharisma
    Band 2Viska Kharisma

    Viska Kharisma

    Viska Kharisma focuses on advising issuers and underwriters on equity capital markets issuances in the Indonesian market. Her expertise covers IPOs and public M&A, and she also has expertise in debt deals.
  • Band 3Dandy Firmansyah
    Band 3Dandy Firmansyah

    Dandy Firmansyah

    Dandy Firmansyah is a partner in Jakarta who specialises in capital markets transactions, including IPOs and rights issues.

    • Dandy is a great lawyer and guy, who is trustworthy, knowledgeable, dependable and client-friendly.

      Capital Markets respondentAsia-Pacific
    • He has a strong understanding of the business and comprehensive experience. He is very good at handling problems, easy to approach and quick to respond.

      Capital Markets respondentAsia-Pacific

Ranked Individuals at Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills Kramer (3)

Indonesia

Members

Provided by Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills Kramer

Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills Kramer has rankings in the following guides

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