After Demutualisation, IDX to Become a Public Company Starting Q3-2026

The Financial Services Authority (OJK) has stated that the Indonesia Stock Exchange (IDX) will become a demutualised entity with a profit motive. Chief Executive of Capital Market, Derivative Finance, and Carbon Exchange Supervision cum OJK Board of Commissioners Member Hasan Fawzi said this is in line with capital market reform efforts. Hasan explained that the change in shareholder structure and the demutualisation process aims to enable the stock exchange to attract investor interest in advancing the bourse. “With a demutualised nature, the stock exchange may become a publicly listed company in the future,” he said during a virtual press conference on Tuesday (4/8/2026). The hope is that this can fulfil the objective of continuously strengthening governance aspects, increasing investor confidence, and expanding participation from various stakeholders. However, even though the IDX will become an institution with a profit or business development orientation, its primary role and function as a regulator, self-regulatory organisation, and capital market infrastructure provider must still be carried out independently, professionally, and with full integrity, according to Hasan. “The OJK is currently in the process of formulating the RPOJK, the Draft OJK Regulation, concerning the demutualisation and shareholders of the stock exchange,” he said. The main points to be regulated in the draft OJK regulation will include changes to the legal form and share ownership structure of the stock exchange. It will also regulate the separation of ownership rights and stock exchange membership rights. Furthermore, governance related to the stock exchange institution will be regulated, along with the separation of regulatory functions and business development functions. “Then there are provisions related to share transfers and risk control, as well as operational matters, infrastructure, and later we will regulate the stock exchange tariff mechanism,” he stated. Hasan revealed that the drafting of the OJK Regulation concerning the demutualisation of the stock exchange is targeted for completion and effective implementation by the third quarter of 2026. Regarding private deals, this draft regulation will in principle open a mechanism for changes or transfers of share ownership when the stock exchange demutualisation occurs. The mechanism for changes in ownership and shareholders of the stock exchange will be handed over to the exchange through a decision-making process by the current shareholders. “This mechanism for share issuance and changes in the ownership structure by the stock exchange must, of course, be carried out in accordance with the provisions of laws and regulations and must also meet the requirements and provisions to be stipulated in the OJK Regulation concerning this stock exchange demutualisation,” he stressed.