IDX says Danantara’s share stake still pending OJK approval
The Indonesian Stock Exchange said Danantara’s proposed 40.12% ownership is not final until the Financial Services Authority gives its approval.
During a briefing in Jakarta, IDX director of development Iding Pardi said the shareholding structure for Danantara Investment Management Agency in the exchange’s demutualisation is still being determined. Regulations require any investor seeking more than a 5% stake to obtain approval from the Financial Services Authority (OJK), and the OJK has not yet validated the figures circulating in a shareholders’ meeting document.
That document indicated Danantara would hold 69 IDX shares, roughly 40.12% after a rights issue, making it the only party currently interested. The Ministry of Finance and Bank Indonesia have not expressed interest, though new legislation could allow them to become shareholders. IDX officials emphasized that the exchange’s independence will be protected despite the ownership changes. Danantara added that internal assessments and testing continue and it awaits final OJK regulations, so the reported numbers do not represent a final decision.
