Danantara Set to Take Stake in IDX as Demutualization Process Moves Forward

Danantara Set to Take Stake in IDX as Demutualization Process Moves Forward

Jakarta. Sovereign wealth fund Danantara is moving to acquire a stake in the Indonesia Stock Exchange (IDX) as part of the bourse’s planned demutualization, with discussions underway with the Financial Services Authority (OJK) and IDX management.

Danantara Chief Investment Officer Pandu Sjahrir said the investment is tied to the demutualization process, which is currently awaiting the completion of OJK regulations.

“Yes, the demutualization process is still underway, both with OJK and the exchange’s management. God willing, it can be completed in the next few months,” Pandu told reporters at the IDX building in Jakarta on Monday.

Pandu did not disclose the size of the stake Danantara plans to acquire, saying further details would be announced soon. Danantara had previously said it could acquire up to a 30% stake in the Indonesia Stock Exchange (IDX), Chief Executive Officer Rosan Roeslani said in February.

“We will share the details with everyone shortly. We are currently communicating with OJK and the exchange,” he said.

Danantara’s involvement in the demutualization will be carried out through Danantara Investment Management (DIM), which will make the investment under direction from the sovereign wealth fund Danantara (BPI Danantara).

“Danantara has instructed DIM to carry out the investment for the demutualization,” Pandu said.

The IDX demutualization is mandated under the Financial Sector Development and Strengthening Law (P2SK Law), which allows three state institutions — the Finance Ministry, Bank Indonesia and BPI Danantara — to become shareholders of the exchange.

OJK previously targeted completing and implementing the regulation governing the IDX’s demutualization in the third quarter of 2026.

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