Updated List of 48 High Shareholding Concentration Stocks, Ownership at 99.9%

The Indonesia Stock Exchange (IDX) has again updated its list of stocks with High Shareholding Concentration (HSC), bringing the total number of listed companies in this category to 48. This follows a previous announcement on 3 April 2026, which listed 10 companies with HSC status. However, PT Lima Dua Lima Tiga Tbk (LUCY), which was previously on the list, had its HSC status revoked by the IDX effective 29 June 2026, with the public announcement made on 2 July 2026. This more transparent data is expected to boost investor confidence in the capital market. The data is based on the methodology for determining High Shareholding Concentration on the ownership structure of shares in scrip and scripless forms as of 30 June 2026. According to the latest list, PT Maha Properti Indonesia Tbk (MPRO) is the issuer with the highest ownership concentration at 99.99%. It is followed by PT DCI Indonesia Tbk (DCII) at 99.96%, PT Krom Bank Indonesia Tbk (BBSI) and PT Pradiksi Gunatama Tbk (PGUN) each at 99.95%, and PT Golden Flower Tbk (POLU) at 99.94%. HSC is a category for shares where the majority ownership is controlled by a single party or an affiliated group, resulting in a relatively limited number of shares circulating in the public. Stocks with high ownership concentration are considered to carry significantly greater risk compared to those with a large free float. Since control over price and liquidity rests with a small number of parties rather than fully with market mechanisms, transaction volumes can be limited, making it difficult for investors to sell shares during market volatility. Concentrated ownership also allows prices to spike dramatically and plummet due to small transactions by the main owner, meaning the price does not reflect the overall stock market. Majority shareholders also have full control over company policy direction and dividends.