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View all search resultsOJK to impose 5% ownership cap on IDX after demutualization
Entities that meet the criteria for “strategic shareholder”, such as Danantara, Bank Indonesia and the Finance Ministry, will still be permitted to hold stakes above the 5 percent cap.
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The logo sign of the Indonesia Stock Exchange (IDX) reflects the sun on April 19, 2026, at the bourse’s headquarters in Kebayoran Baru, South Jakarta. (JP/Iqro Rinaldi)
T
he Financial Services Authority (OJK) plans to impose a 5 percent limit on owning shares in the Indonesia Stock Exchange (IDX) following the rollout of demutualization, which will transform the bourse from a member-owned mutual company held by brokerages into a shareholder-owned private company.
“So, any entity seeking to become a shareholder in the stock exchange is allowed to do so, provided that their shareholding doesn’t exceed 5 percent of total shares issued by the exchange,” Hasan Fawzi, the OJK’s chief supervisor of capital markets, said on Thursday in Jakarta, as quoted by Antara.
Read also: OJK to issue regulation on IDX demutualization in September
Hasan also noted that ownership above the planned cap would still be possible, particularly for entities that met the criteria for classifying as a strategic shareholder, including state asset fund Danantara, Bank Indonesia (BI) and the Finance Ministry.
Such exceptions, however, would first be subject to a specific process in accordance with the new OJK regulation, he stressed.
“There will be criteria that should be met by certain entities like those three. If the criteria are met and, following a review and approval process, it is deemed possible, then those entities may be allowed to hold a stake exceeding the aforementioned 5 percent limit,” Hasan added, without going into further details.
The OJK is aiming to finalize the regulation on the bourse’s planned demutualization this month. Hasan said the authority had held initial discussions with the Law Ministry to harmonize its new regulation after completing internal processes.
