Skripsi ini membahas mengenai strategi serta prosedur reverse merger dalam peraturan perundang-undangan Indonesia sebagai salah satu skema dari backdoor listing yang belum diatur dalam hukum Indonesia. Reverse merger, dalam hal ini, telah menjadi sebuah upaya hukum alternatif bagi perusahaan yang ingin go public tanpa melakukan penawaran umum perdana yang dinilai cukup memakan waktu dan biaya bagi perusahaan-perusahaan. Reverse merger, sebagai suatu upaya restrukturisasi, dinilai lebih memberikan banyak keuntungan dibandingkan penawaran umum perdana karena dapat dilaksanakan tidak hanya dalam kondisi perekonomian normal, tetapi juga dalam kondisi krisis perekonomian. Praktik reverse merger, meski belum diatur di Indonesia, telah terjadi dalam studi merger penulisan ini, yaitu antara merger PT Island Concepts Indonesia Tbk. dan PT Gama Wahyu Abadi.

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This thesis discusses about the strategy and procedure of reverse merger under Indonesian regulations as a scheme of backdoor listing that has not been regulated under Indonesian Law. Reverse merger, in this case, is an alternative way for companies that are willing to go public without conducting an initial public offering (IPO), which is considered time-consuming and expensive by companies.

Reverse merger, as one way of restructuring, gives more advantages compared to initial public offering as it can be conducted not only in normal economic conditions, but also in time of economic crisis. The practice of reverse merger, although not yet been regulated, has happened in this thesis’ merger study, which is the merger between PT Island Concepts Indonesia Tbk. and PT Gama Wahyu Abadi.