Legal Position of Shareholders with Multiple Voting Rights in Technology-Based Limited Liability Companies in the Initial Public Offering Process

Shares with Multiple Voting Rights (MVS) is a share classification where one share grants more than one voting right. MVS is a new share classification regulated through POJK Number 22/POJK.04/2021. It is different from Law Number 40 Year 2007 on Limited Liability Companies which adheres to one share one vote (OSOV). Based on Article 53 paragraph (4) of the Company Law, there are only 5 share classifications. This creates legal uncertainty regarding the legal position of MVS shareholders and their legal protection. This research uses normative juridical methods with statutory and conceptual approaches, and legal materials are analyzed using the deductive method. The result of this research is that the legal position of MVS shareholders is the same as the majority shareholder. The legal implication is that MVS is only given to technology-based limited liability companies (startups) because it has special characteristics and MVS shareholders become majority shareholders in terms of voting rights.