Iwan Setiawan

Iwan joined Makes & Partners at its inception in 1993 and has been a Senior Partner in the Firm since 1997. He heads the Firm’s award-winning Capital Markets Group for the past 30 years.

Iwan is regarded as one of the pre-eminent legal experts in Indonesia, and is respected and sought after by domestic and foreign clients, and even regulators for his expert insights and advice. Iwan has been appointed as the Chairman of the Indonesian Association of Capital Market Legal Consultants (HKHPM) for 2021-2024.

He has led the Firm in successfully completing some of the biggest and landmark IPOs in Indonesia in the past three decades, including, most recently the IPOs of Mitratel (as counsel to the Banks) and Blibli (as counsel to Blibli), the second and fifth biggest IPOs, respectively, in Indonesia to date. Clients say that he is “astute and knowledgeable” and that his expertise in Capital Market is indeed, “unparalleled”.
Iwan is the only Indonesian lawyer in the elite list of Asia’s Top 15 Capital Market lawyers (2022) published by the Asian Legal Business. He was nominated as Southeast Asia Capital Market Lawyer of the Year at the 2023 Legal 500 Southeast Asia Awards.

Iwan has been recognized with several awards, some of the latest being (i)Distinguished Practitioner in Capital Markets by Asialaw (2023) (ii)Leading Individual by Legal 500 (2023) (iii)Band 1 in Capital Markets by Chambers and Partners Asia Pacific and Global Guide (2023)(iv)Top 100 Lawyers by Asia Business Law Journal the “A” List (2021, 2022 and 2023)(v)Shortlisted as Capital Market Lawyer of the Year at the Legal 500 SE Asia Awards (2023)

• Iwan assisted PT Bank Mandiri (Persero) Tbk with its issuance of shelf/continuous green bonds and medium-term notes.
• Iwan is currently assisting PT Bentoel International Investama Tbk, a giant multinational tobacco company in carrying out a Go-Private process.
•  Iwan advised on the mega-IPO of PT Global Digital Niaga (popularly known as Blibli), the second biggest IPO in the IDX in 2022, and the fifth biggest IPO in the history of the IDX to date.
• Iwan along with his team assisted PT Dayamitra Telekomunikasi Tbk, a subsidiary of PT Telkom Indonesia Tbk in carrying out its mega IPO which was also hailed as the second largest IPO in the history of IDX.
• Iwan assisted PT Net Visi Media Tbk., one of the most prominent media companies in Indonesia in its IPO on the IDX. The deal was challenging due to the 87 subsidiaries of the company that spread across the country, and Iwan’s team was responsible for reviewing if each subsidiary complied with the relevant local regulations of each city where it was located and was operating.
• Iwan represented PT Mora Telematika Indonesia in the issuance and public offering of Sukuk (sharia bonds) through a shelf offering within the framework of applicable Indonesian capital market laws and regulations.
• Iwan represented Pembangunan Jaya Ancol Tbk (“PJAA”) in the 2nd issuance of bonds through a self-registration public offering (Penawaran Umum Obligasi Berkelanjutan II Jaya Ancol Tahap II Tahun 2021). PJAA is one of the biggest companies engaged in the development of real estate and consulting services for the planning and development for tourism and hospitality sites.

• Capital markets

• Banking and financial services
• Real estate

• Chairman of the Indonesia Association of Capital Markets Legal Consultants (HKHPM) for 2021-2024.
• Registered Legal Consultant of the BAPEPAM

• Bachelors Degree, Padjadjaran University, 1991