Speaking in Jakarta on Sunday, Acting Chair of the OJK Board of Commissioners Friderica Widyasari Dewi said the first step is to raise the minimum public shareholding requirement from 7.5 percent to 15 percent, aligning Indonesia’s market with global standards.
She explained that the new free-float requirement will take immediate effect for companies conducting initial public offerings, while issuers already listed on the Indonesia Stock Exchange (IDX) will be granted an adjustment period to comply.
The second measure focuses on strengthening transparency related to ultimate beneficial ownership and shareholder affiliations, an effort aimed at boosting investor confidence and enhancing overall market investability.
Third, Dewi said the OJK has instructed the Indonesian Central Securities Depository (KSEI) to classify investor types in line with global practices and to increase transparency in shareholder information, making shareholding data more detailed and reliable.
To improve governance and mitigate conflicts of interest, the fourth measure involves the demutualization of the Indonesia Stock Exchange, to be carried out by the OJK in coordination with the government.
She added that the next step emphasizes stricter rule enforcement and the imposition of penalties, reaffirming the OJK’s commitment to taking firm action against market violations, including trading manipulation and the spread of misleading information.
The sixth measure focuses on strengthening issuer governance through mandatory, continuous capacity-building programs for directors, commissioners, and auditors, as well as compulsory certification for financial report preparers.
The seventh measure highlights coordinated efforts to accelerate capital market deepening across the demand side, supply side, and supporting infrastructure.
Finally, Dewi affirmed the OJK’s commitment to strengthening synergy with all stakeholders—including government institutions, regulators, self-regulatory organizations, industry players, and associations—to support sustainable structural reform of Indonesia’s capital market.
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Translator: Bayu Saputra, Tegar Nurfitra
Editor: M Razi Rahman
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