February 6, 2026 | 11:17 am
TEMPO.CO, Jakarta - Coordinating Minister for the Economy, Airlangga Hartarto, revealed that the demutualization scheme of the Indonesia Stock Exchange (IDX) can be carried out through two methods, private placement or initial public offering (IPO). Private placement involves the direct sale of new shares to specific investors.
He said that the demutualization of the stock exchange is one of the capital market reform agendas in accordance with President Prabowo's direction. Currently, government regulations regarding the demutualization of IDX are being prepared.
"The demutualization of the stock exchange can be done in two stages, firstly through private placement, and secondly through IPO. Later, it can be discussed technically," said Airlangga during the Annual Meeting of the Financial Services Industry 2026 at Hotel Bidakara, Jakarta, on Thursday, February 5, 2026. According to him, the demutualization of IDX is an important step to strengthen market transparency and accountability.
Airlangga emphasized that the integrity of the capital market must be maintained, as it serves as a window for global investors. He mentioned that although the macroeconomic conditions are solid, unfavorable capital market conditions could have long-term consequences for the economy.
Meanwhile, Hasan Fawzi, a Substitute Commissioner of the Executive Board of the Capital Market Supervisory Agency, Derivatives and Carbon Exchange at Financial Services Authority (OJK), said that the private placement or IPO scheme is still an option. The scheme will be further discussed once the formulation of government regulations is completed.
Hasan mentioned that the process of formulating the draft government regulation on demutualization will be discussed with House Commission XI. The Ministry of Finance has fully involved the OJK in formulating these regulations.
"Then we will see the mechanism there for the options mentioned earlier, and how to reshape the institutional form of the current mutual stock exchange into a demutualized one," said Hasan to journalists at Hotel Bidakara.
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