OJK Sets Maximum 5% Shareholding Limit for Indonesia Stock Exchange

The Financial Services Authority (OJK) has addressed the issue regarding the proportion of shares that can be held by various parties following the implementation of the Indonesia Stock Exchange (IDX) demutualisation.

Hasan Fawzi, the Executive Head of Capital Market, Derivatives, and Carbon Exchange Supervision at OJK, stated that under the OJK Regulation currently in the finalisation stage, the maximum ownership limit for each shareholder is set at 5%.

“Under the current draft OJK Regulation, we have established a 5% provision,” he said when met at the DPR RI building in Jakarta on Thursday (3/9/2026).

This provision applies to current Exchange Members (AB) as shareholders, as well as other Indonesian legal entities.

Hasan continued, noting that shareholders may exceed this maximum proportion if they meet specific, detailed criteria as regulated in the OJK Regulation concerning demutualisation.

“Ultimately, there will be a review, investigation, and approval process by us at OJK to ensure that the parties involved truly meet the various required criteria,” he explained.

Hasan emphasised that shareholding is open to all institutions. However, to obtain a sufficiently large shareholding portion, certain criteria must be met, particularly for those acting as strategic shareholders, such as the Ministry of Finance or BPI Danantara.

“If those criteria are met and through the research and approval process in accordance with the OJK Regulation, it remains possible for certain parties to hold a share portion in the Exchange exceeding the 5% limit,” he concluded.