OJK Opens Data on High Shareholding Concentration Owners, Learning from This Exchange

Jakarta, CNBC Indonesia - The Financial Services Authority (OJK), together with the Indonesia Stock Exchange (BEI) and the Indonesian Central Securities Depository (KSEI), has officially opened data related to High Shareholding Concentration (HSC) or high share ownership concentration in issuers, starting Thursday (2/4/2026).

This initiative represents a new step in enhancing capital market transparency, providing investors with an overview of share ownership structures that are concentrated among a few parties or affiliated entities.

The Head of the Capital Market, Derivatives Finance, and Carbon Exchange Supervisory Executive of OJK, Hasan Fawzi, revealed that the effort is based on the independent regulatory body in Hong Kong, the Securities and Futures Commission (SFC).

“Regarding the HSC announcement, HSC essentially refers to similar practices in other exchanges, with the reference being the SFC in Hong Kong since 2007,” he stated during a virtual press conference on Monday (6/4/2026).

Nevertheless, Hasan emphasised that in its implementation, they have adjusted to the characteristics of the Indonesian capital market.

In simple terms, shares in the HSC list are those held by investors or a single affiliated party or the same recurring investors, rather than being owned by many investors as with ordinary shares.

“HSC measures the level of share ownership concentration held by a handful of specific shareholders, whether non-public controllers or certain parties, considering free float, ownership outside controllers, and certain transaction patterns,” he explained.

Through this policy, it covers not only majority figures but also the market structure comprehensively. “How dispersed the ownership is and its implications for tradability,” he added.

The process will be carried out by BEI and supported by KSEI data. Hasan affirmed that this does not indicate any violation or imposition of sanctions on issuers included in HSC.

“So HSC serves as a reminder for investors; of course, this is not an indication of any violation or sanctions against issuers in HSC,” he concluded.