IDX: Danantara's Shareholding Stake Has Yet to Be Finalized
The Indonesia Stock Exchange (IDX) ensures that independence is maintained following demutualization.
The Indonesian Stock Exchange (IDX) has clarified that the shareholding stake of Danantara Investment Management Agency (BPI Danantara) in the demutualization process has not yet been finalized. According to IDX Director of Development Iding Pardi, the proportions of the exchange's shareholders, including Danantara, are yet to be determined by the Financial Services Authority (OJK). OJK approval is required for any entity to own more than 5 percent of the exchange's shares.
Danantara's shareholding proportion of 69 shares, or 40.12 percent, following a rights issue, has been a subject of discussion after a document from the IDX shareholders meeting was circulated. Currently, Danantara is the only interested party in becoming a shareholder, while the Ministry of Finance and Bank Indonesia have not shown any interest. However, the revision of the Financial Sector Development and Strengthening Act (P2SK) could allow these three state institutions to become shareholders of the exchange.
Pardi stressed that the exchange's independence will remain intact despite the demutualization, ensuring OJK Regulation's message is clear - to prevent the new shareholders from threatening or disrupting the exchange's independence. Danantara has stated that discussions about the IDX demutualization are ongoing and not yet concluded, as internal assessments and comprehensive testing are still underway.
The Danantara Indonesia Communication Team added that the circulating information does not reflect the company's position or the final decision.
Written by urgent.news from Tempo.co English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
