OJK to Limit IDX Share Ownership Following Demutualization

RRI.CO.ID, Jakarta - The Financial Services Authority (OJK) will impose limits on share ownership in the Indonesia Stock Exchange (IDX). The provision will take effect once the OJK Regulation (POJK) on demutualization is issued.

Executive Director of Capital Markets, Derivatives, and Carbon Exchange Supervision at the OJK, Hasan Fawzi, said the provision is included in the draft POJK.

“So, any party that becomes a shareholder of the IDX may hold a maximum of 5 percent of the total shares issued by the exchange,” Hasan said at the Parliament Complex in Senayan, Jakarta, on Thursday, September 3, 2026.

However, the OJK allows shareholdings exceeding 5 percent for strategic shareholders. Danantara Indonesia, Bank Indonesia (BI), and the Ministry of Finance are among the parties potentially included in this category.

Hasan said shareholdings above 5 percent must still undergo a review and approval process in accordance with OJK regulations. This process ensures that the relevant parties meet the criteria for strategic shareholders.

He added that the draft POJK on IDX demutualization is now in the finalization stage. The OJK aims to complete the regulation in the third quarter of 2026 (Q3 2026), specifically in September.

“Yesterday, we held initial discussions with the Ministry of Law to ensure harmonization, as our internal processes have already been finalized,” Hasan said.

Once the POJK takes effect, IDX will need to amend its articles of association and several exchange regulations. “This is because its institutional structure, ownership, and organizational nature have now changed,” Hasan said. (Gusti Panji)