IDX Issues List of High Shareholding Concentration Stocks, Here's the Explanation

The Indonesia Stock Exchange (IDX), together with the Indonesian Central Securities Depository (KSEI), issued a list of high shareholding concentration (HSC) stocks at the end of trading on Thursday (2/4/2026). Acting President Director of PT Indonesia Stock Exchange, Jeffrey Hendrik, explained that the HSC announcement represents a global best practice, similar to that implemented by the Hong Kong Stock Exchange when facing similar concentration issues from MSCI. “HSC is a public announcement where there is concentrated central ownership of shares in a number of percentile connections of the shares,” said Jeffrey on Thursday (2/4/2026). “There will be questions if it’s concentrated to a certain percent, whether it doesn’t meet the free float requirements. The answer is, it doesn’t automatically indicate any violation in the capital market sector,” he added. The process for determining stocks in the high shareholding concentration is formulated by a joint committee at the Indonesia Stock Exchange and KSEI using a methodology established in the SOP. In practice in Hong Kong, Jeffrey said, companies announced as having indications of high share ownership concentration face no actions from local authorities. “However, at IDX, listed companies can later conduct assessments or other necessary actions to improve the investability of the issuer’s condition,” he stated. Jeffrey explained that issuers who have taken such actions can report to IDX and KSEI. Then, IDX and KSEI will reassess. “If the listed company is no longer in a condition of high concentrated share ownership, then IDX together with KSEI will issue a closing announcement on the matter,” he said. Head of OJK’s Capital Market, Derivatives Finance, and Carbon Exchange Executive Supervision, Hasan Fawzi, added that the HSC announcement is expected to serve as additional information as an early warning for investors to make decisions. “So this is not because of a specific violation, but it will open information for the list of stocks that are confirmed to have high concentration or ownership limited by a few parties,” he added.