August 14, 2026 | 07:44 pm
TEMPO.CO, Jakarta - Danantara Indonesia Investment Management Agency has expressed interest in acquiring shares in the Indonesia Stock Exchange (IDX). However, the stake size is still under discussion with the Financial Services Authority (OJK) and IDX management.
"We're still discussing it. We're still coordinating with OJK and Bank Indonesia (BI) management," said IDX President Director Jeffrey Hendrik after attending the 2026 Impact Investment Festival in South Jakarta on Thursday, August 13, 2026.
Jeffrey explained that the determination of the shareholder percentage will take into account capital requirements and the infrastructure development required to increase the IDX's market capitalization. This effort aims to increase participation by foreign and domestic investors alike.
According to Jeffrey, increasing market capitalization is one of the primary goals of this investment. Indonesia's market capitalization is currently estimated to be 50–60 percent of its gross domestic product (GDP).
Meanwhile, market capitalization in countries like Malaysia and India has reached around 100–120 percent of GDP. "So, the potential for this volume to increase is still quite substantial," he said.
Jeffrey added that if Danantara were to invest a significant amount of capital in the IDX, the exchange's management could potentially benefit from their input. However, this would depend on the terms and conditions agreed upon with other IDX shareholders. Regarding the funds Danantara will allocate for the investment, the amount will depend on the IDX's valuation and the agreed-upon ownership percentage.
Meanwhile, Djamal Attamimi, Managing Director of Finance at PT Danantara Investment Management, is optimistic that Danantara's entry will boost Indonesia's stock market capitalization. "That, of course, will depend on the valuation and ownership percentage. But our primary objective is how we can increase market capitalization, especially relative to Gross Domestic Product (GDP)," he said at the IDX Building in Jakarta, as quoted by Antara.
Furthermore, Djamal compared Indonesia's capital market capitalization-to-GDP ratio, which is in the range of 50-60 percent of GDP, to those of several other countries. "However, in other countries like Malaysia and India, capitalization is already 100-120 percent of GDP. So, the potential for this volume increase is still quite substantial," he said.
Read: Why Is Prabowo Targeting a Cut in State-Owned Firms to 300?
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