IDX to Publish Shareholders List to Strengthen Market Governance

RRI.CO.ID, Jakarta - The Indonesia Stock Exchange (IDX) will issue a shareholders’ concentration list to strengthen information disclosure in the capital market. The policy follows concerns raised by Morgan Stanley Capital International (MSCI) regarding transparency and shareholding structures in Indonesia.

Acting President Director of IDX Jeffrey Hendrik announced the plan after a follow-up meeting with MSCI. He said the initiative adopts a practice already implemented by the Hong Kong Stock Exchange. “This implementation will certainly improve the transparency and integrity of our market going forward,” Jeffrey said at a press conference at the IDX Building in Jakarta on Wednesday, February 11, 2026, as quoted by Antara.

He explained that the idea emerged after the Self-Regulatory Organization (SRO) reviewed MSCI’s input since October 2025. The SRO then conducted comparative studies of global exchanges that had faced similar issues.

Jeffrey noted that the reference for ownership limits above 1 percent was drawn from practices in India, while the shareholders’ concentration list was modeled on Hong Kong.

He emphasized that the details of discussions with MSCI remain confidential, in line with agreed norms. IDX provided only general information, without disclosing the specifics of the meeting or its conclusions.

During the meeting, IDX reiterated three action plans previously presented to MSCI. The first is increasing transparency for shareholders with a 1 percent or more ownership stake.

The second is providing more granular investor data to improve market information quality. The third is accelerating the implementation of Regulation I-A on stock listing, which requires an increase in free float from 7.5 percent to 15 percent.

“These steps are part of IDX’s ongoing commitment to strengthening transparency and integrity in the Indonesian capital market. We also refer to global exchange best practices, one of which is the publication of a shareholders’ concentration list,” Jeffrey said. ***