Danantara Could Become a BEI Shareholder, OJK Still Finalising Rules

The Financial Services Authority (OJK) has commented on signals regarding the potential involvement of BPI Danantara as a shareholder in the Indonesia Stock Exchange (BEI). This relates to the upcoming demutualisation of the BEI.

Chief Executive of Capital Market, Derivative Finance, and Carbon Exchange Supervision, concurrently OJK Board of Commissioners Member Hasan Fawzi, stated that the plan is still awaiting the completion of OJK regulations governing share ownership rights in the country’s stock exchange.

“Not yet (confirmed). So, of course, they, like others, will wait for the issuance of the regulatory foundation for implementation at OJK in the form of an OJK Regulation, the main points of which I have also conveyed,” he said when met at the BEI building in Jakarta on Monday (10/8/2026).

Hasan explained that BPI Danantara is an entity outside other state institutions, such as the Ministry of Finance and Bank Indonesia. Danantara’s role is specifically mentioned in Law Number 4 of 2026 as a party that can become a shareholder in the stock exchange once demutualisation occurs.

“So, of course, to this specifically mentioned party, we have started discussions and invited their participation to see the possibility, when demutualisation occurs, whether they are interested in becoming an initial shareholder of the exchange outside of exchange members who will later respond when the exchange offers share ownership to Indonesian legal entities outside of exchange members,” he explained.

Hasan stated that there will be a mechanism for a maximum share ownership limit. The exact figure is still under discussion and review. The regulation also refers to exchanges in other countries that have taken similar steps.

“Well, it is currently being processed, you can see it in the initial draft later. But more or less, as a benchmark, almost all countries that have undergone demutualisation also set a generally applicable maximum ownership limit,” he revealed.

“The figure will be determined later, but the essence is a figure that more or less does not lead to majority and significant ownership, so that it does not become a controlling shareholder,” he concluded.