IDX: Danantara Expresses Interest in Acquiring Stake in Indonesia Stock Exchange

President Director of PT Bursa Efek Indonesia (IDX), Jeffrey Hendrik, revealed that Danantara Indonesia has already expressed interest in acquiring ownership of shares in PT BEI.

He said the interest was conveyed by Danantara through PT Danantara Investment Management (DIM).

“Oh, the one that has already expressed interest is BPI Danantara, through DIM,” Jeffrey told journalists at the IDX Building in Jakarta on Wednesday.

Jeffrey further confirmed that the IDX will continue to maintain communication with Danantara, while awaiting the issuance of the Financial Services Authority (OJK) Regulation on Demutualisation.

“So going forward, we will certainly continue to build communication, while waiting for the OJK regulation. Everything will be regulated through the OJK regulation,” said Jeffrey.

In the Demutualisation OJK Regulation, he explained, it will also govern ownership by investors outside Exchange Members (AB), including Danantara, over the IDX.

“Oh yes, that (ownership limit) will be regulated by the OJK regulation,” said Jeffrey.

Jeffrey confirmed that the IDX has conducted comparative studies with stock exchange authorities in other countries to determine the appropriate demutualisation format for Indonesia.

“As for the study, the comparative study has already been carried out. Then, of course, we will seek the most appropriate format for Indonesia. And that, once again, will be set out in the OJK regulation,” said Jeffrey.

Previously, Chief Investment Officer (CIO) of Danantara Indonesia, Pandu Sjahrir, said that his party is currently in discussions with the OJK regarding the process of acquiring ownership in the IDX.

“Yes, our demutualisation is still in process, both with the OJK and with the exchange’s board of directors (IDX). God willing, it can be completed within the next few months,” said Pandu.

Regarding the portion of share ownership in the IDX, Pandu said that the matter is currently being discussed by Danantara, and the information will be conveyed to the public shortly.

“We will share the details with everyone soon. We are currently communicating well with both the OJK and the Exchange,” said Pandu.

Pandu explained that Danantara’s ownership of the IDX will be carried out through PT Danantara Investment Management (DIM), and that the share purchase is part of Danantara’s investment.

“BPI has given direction to DIM to execute the investment for the demutualisation,” said Pandu.