Jakarta. Indonesia Stock Exchange (IDX) will seek shareholder approval for its first-ever dividend distribution on Wednesday, marking an initial step in the bourse’s demutualization process mandated by the 2023 Financial Sector Development and Strengthening Law (P2SK Law).

IDX President Director Jeffrey Hendrik said the law and Financial Services Authority (OJK) Regulation No. 13/2026 provide a legal basis for the exchange to distribute dividends to its shareholders, which currently comprise securities firms that are members of the bourse.

The proposal is among the agenda items to be submitted for approval at the IDX’s extraordinary general meeting of shareholders (EGMS) on Wednesday, Oct. 28.

“IDX is prioritizing the dividend distribution and will implement it without delay, in accordance with applicable regulations. Therefore, the dividend payout is one of the items for which we will seek approval at today’s EGMS,” Jeffrey said.

The plan has also been incorporated into the IDX’s 2027 Annual Work Plan and Budget (RKAT), which still requires OJK approval. The actual distribution will remain subject to the necessary approvals and regulatory requirements.

Under the current ownership structure, securities firms hold shares in the IDX. Jeffrey said these founding members would be the initial beneficiaries of the demutualization process, which is intended to change the exchange’s ownership and governance structure.

He stressed that the process must follow the mandate of the P2SK Law while consistently safeguarding the IDX’s independence.

The proposed dividend has received support from Mohamad Hekal, deputy chairman of House of Representatives Commission XI and head of the working committee responsible for revising the P2SK Law.

Hekal said the payout could provide an incentive for existing shareholders while encouraging securities firms to support broader capital market reforms.

“I welcome the IDX’s plan and initiative to distribute dividends for the first time. This would provide an incentive for IDX shareholders as the exchange moves toward the demutualization mandated by the P2SK Law, while also offering fresh encouragement for securities firms to support and implement capital market reforms,” Hekal said.

He expressed confidence that the IDX board had prepared the necessary measures to carry out the demutualization mandate and dividend distribution under OJK supervision.

The IDX has yet to disclose the proposed dividend amount or how much each shareholder would receive.

Demutualization involves changing an exchange from a member-owned organization into a different ownership and governance structure. The reform forms part of Indonesia’s broader efforts to strengthen its capital market under the P2SK Law.

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