OJK and IDX Open Up Shareholder Data, Allowing Investors to See the "Puppeteers" Behind Price Movements
JAKARTA, KOMPAS.com - The Financial Services Authority (OJK), along with PT Indonesia Stock Exchange (IDX) and PT Indonesian Central Securities Depository (KSEI), has officially opened access to share ownership data at a more detailed level, while also raising the minimum free float threshold to 15 per cent.
This policy is not merely a reform but a “new map” for reading market movements, identifying major players, and measuring liquidity more precisely.
The stock exchange authorities have completed four strategic steps to strengthen transparency and capital market liquidity. This initiative is part of eight action plans to accelerate reforms in the integrity of Indonesia’s capital market, as well as efforts to enhance Indonesia’s competitiveness in the eyes of global investors and index providers, such as Morgan Stanley Capital International (MSCI).
The four agendas include the opening of share ownership data above 1 per cent to the public, an increase in the minimum free float limit to 15 per cent through adjustments to Exchange Regulation Number I-A and its circular letter, strengthening the granularity of investor data by KSEI to 39 classifications, and the implementation of announcements regarding concentrated share ownership or High Shareholding Concentration (HSC).
Share ownership data above 1 per cent is available on the IDX website’s announcement page using the keyword “Shareholders above 1 per cent”.
Acting Director of IDX, Jeffrey Hendrik, stated that the policy also encompasses a redefinition of the free float concept and strengthening of share classifications, including in the initial public offering (IPO) process.
“A transitional period has been set for listed companies to mitigate potential short-term pressures on share prices and market liquidity,” said Jeffrey in a press statement on Thursday (16/4/2026).
He added that by maintaining the ownership threshold of 5 per cent in line with global standards, the policy is expected to increase liquidity while attracting more investors.
Market transparency is also being expanded through the presentation of more granular share ownership data. Investor classifications, previously only nine, have been increased to 39 classifications and types, providing a more detailed picture of investor composition.
This information can be accessed by the public through the announcement page on the IDX website using the keyword “Report on Listed Company Share Ownership Data Based on Investor Classification”.
Information on shares indicating HSC is published through the IDX website on the announcement page with the keyword “High Concentrated Share Ownership”, making it accessible to investors and the general public.
This information is published openly to improve the quality of information and strengthen investor protection.
“Transparency of share ownership data above 1 per cent and disclosure of HSC will enhance the quality of market information while helping investors understand the ownership structure of a listed company more comprehensively,” added Jeffrey.
Looking ahead, he assured IDX’s commitment to continuing reforms with a focus on strengthening transparency, liquidity, and refining market structure.
“Through consistent reforms and open communication with all stakeholders, we are optimistic that Indonesia’s capital market will become increasingly attractive to both domestic and global investors,” he stated.