Danantara plans 10% IDX stake purchase
In February, Danantara CEO Rosan Roeslani said that it was common practice for sovereign wealth funds (SWFs), a role Danantara partly fulfills, to hold stakes in global bourses, typically ranging from 15 to 30 percent.
Danantara, a state asset fund, has announced plans to acquire up to 10 percent stake in the Indonesia Stock Exchange (IDX) to facilitate its demutualization process. The transformation aims to turn the stock market from a member-owned mutual company to a shareholder-owned private entity.
Rosan Roeslani, CEO of Danantara, mentioned in February that it is common practice for sovereign wealth funds (SWFs), of which Danantara is a part, to hold stakes in global bourses. These stakes typically range from 15 to 30 percent.
On Wednesday, Rosan told reporters at the Presidential Palace in Central Jakarta that discussions are underway for Danantara to join a consortium that could collectively hold 30 to 40 percent of the exchange post-demutualization. The CEO clarified that other ministries might also be part of this consortium.
According to Rosan, the total ownership of the IDX could range from 30 to 40 percent, with Danantara's stake potentially falling between 5 to 10 percent. The CEO reiterated that the ownership does not solely belong to the state asset fund, as opportunities are open to other SWFs and foreign investors as well.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
