September 18, 2026 | 05:31 pm
TEMPO.CO, Jakarta - The Indonesian Stock Exchange (IDX) has addressed the shareholding proportion of Danantara Investment Management Agency (BPI Danantara) in relation to the demutualization. According to IDX Director of Development Iding Pardi, the IDX's shareholders and their respective proportions have yet to be determined.
Iding said, in accordance with the demutualization regulations, anyone who wants to own more than 5 percent of the exchange's shares must obtain approval from the Financial Services Authority (OJK).
“So, the news about a certain percentage or who has already circulated is still awaiting the OJK approval process, so it's not yet firm,” he told reporters at the IDX building in Jakarta on Friday, September 18, 2026.
Danantara’s shareholding proportion has come under scrutiny after a document from the IDX shareholders' meeting circulated. The document stated that Danantara would hold 69 IDX shares, equivalent to 40.12 percent after the rights issue.
According to Iding, so far Danantara is the only interested party in becoming a shareholder. Meanwhile, the other two state institutions, the Ministry of Finance and Bank Indonesia, have not shown any interest.
With the revision of the Financial Sector Development and Strengthening Act (P2SK), these three state institutions could become shareholders of the exchange.
Iding ensures that the exchange's independence will remain preserved despite the demutualization. “That's the main message from the OJK Regulation, which is not to let this demutualization result in new shareholders threatening or disrupting the exchange's independence,” he said.
Meanwhile, Danantara said discussions about the IDX demutualization are still ongoing and have not resulted in a final decision. This is because internal assessments and comprehensive testing are still underway.
Danantara is also waiting for the issuance of OJK regulations. “Therefore, the information circulating does not represent the position or the final decision of Danantara Indonesia,” said the Danantara Indonesia Communication Team in a written statement, quoted on Friday, September 18, 2026.
Read: Why the IDX Is Reviving Short Selling
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