Jakarta. Indonesia Stock Exchange (IDX) will expand its shareholding disclosures to show whether investors holding at least 1% of a listed company are affiliated with other shareholders, as the bourse steps up market transparency in response to concerns from global index providers.

“We plan to add an affiliation indicator to our existing disclosure of shareholders with stakes of 1% or more" said IDX President Director Jeffrey Hendrik at the IDX’s extraordinary general meeting of shareholders in Jakarta on Wednesday.

“Going forward, we will continue to develop this information by adding a column showing whether shareholders with a 1% stake or more are affiliated parties,” he added.

The additional disclosure is intended to give investors and the public a clearer picture of share ownership when making investment decisions.

The move is part of a broader overhaul of Indonesia’s capital market, initially driven by concerns raised by MSCI, FTSE and other global index providers, Jeffrey said.

The IDX previously disclosed shareholders with stakes above 5%. It has since lowered the threshold to 1%, while also expanding investor classification from nine types to 39 types and subtypes.

The bourse has also introduced Regulation I-A, which raises the minimum free-float requirement to 15% from 7.5%.

Existing listed companies have 12 to 36 months to meet the new requirement, while newly listed companies must comply with the 15% threshold.

“The capital market transformation we initially undertook was indeed in response to concerns from MSCI, FTSE and other global index providers. We have already taken several concrete steps,” Jeffrey said.

The IDX has also updated its methodology for identifying stocks with high shareholding concentration (HSC).

Jeffrey said the exchange initially used trigger factors to identify HSC stocks but revised the methodology in mid-July 2026. The new methodology broadens the stock universe to include all companies with market capitalizations above Rp 10 trillion.

The IDX then measures the price impact ratio, which takes into account the velocity, or speed, of trading volume turnover. The measure is used in the screening process to identify potential signs of concentrated ownership.

“We will continue making improvements like these. Our commitment to enhancing market transparency, governance and credibility will continue to grow so that we can match or adopt international best practices,” Jeffrey said.

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