Indonesia Stock Exchange Shareholders Approve Demutualisation Step and 1.564 Trillion Rupiah Dividend

Shareholders of the Indonesia Stock Exchange (IDX) approved amendments to the exchange's articles of association on Wednesday, October 28, opening a formal path towards ownership by parties other than its existing exchange members.

The decision was taken at an extraordinary general meeting in Jakarta. It is an enabling step in the exchange's planned demutualisation, under which ownership would no longer be confined to securities firms that are exchange members. The revised articles are not yet effective: they still require clearance from Indonesia's Financial Services Authority, known as OJK, and the relevant approval or notification process at the Ministry of Law.

IDX president director Jeffrey Hendrik said the change applies generally to eligible prospective shareholders rather than being designed for a particular investor. Danantara Indonesia, the country's sovereign investment vehicle, is among the prospective investors under consideration. The exchange has not announced a completed investment or a final valuation for any incoming shareholder.

Shareholders also approved a special cash dividend of 1.564 trillion rupiah for eligible holders, alongside an allocation of 2 trillion rupiah from retained earnings for operational reserves and company development. The meeting approved the exchange's 2027 work plan and annual budget as well.

Demutualisation should not be confused with a stock-market flotation. Hendrik said a future initial public offering remains an aspiration, but there is no announced timetable. Further decisions on potential new share issuance and investor participation remain subject to shareholder and regulatory procedures.

The measures mark a governance and ownership restructuring decision, not a completed transfer of control or an immediate public listing.