BEI Speaks Out about Investor Interest in Bursa Demutualization

BEI (Photo: Antara)

JAKARTA - PT Bursa Efek Indonesia (BEI) revealed that there were a number of potential investors who expressed interest in investing in BEI as part of the exchange demutualization process.

President Director of the Indonesia Stock Exchange Jeffrey Hendrik said his party had identified several potential investors who were interested in taking part in the ownership of the Indonesia Stock Exchange, and currently, discussions related to investment interests are still being carried out with the Financial Services Authority (OJK) and BEI shareholders.

"In order to follow up on the provisions of the legislation, there have been potential investors who have expressed interest in investing in the Indonesian Stock Exchange in order to carry out the demutualization of the Exchange in accordance with the P2SK Law," he said in a press conference, Wednesday, August 12.

He explained that the IDX had coordinated with the OJK and communicated with shareholders to prepare for the demutualization implementation.

In terms of internal aspects, he added that the IDX also made a number of adjustments, including changes to internal provisions and providing input on the OJK regulation draft related to demutualization.

For information, the demutualization of the IDX is a mandate from the Law on the Development and Strengthening of the Financial Sector (P2SK).

Based on the provisions, the ownership of shares of the Indonesia Stock Exchange can involve three state institutions, namely the Ministry of Finance (Kemenkeu), Bank Indonesia (BI), and the Daya Anagata Nusantara Investment Management Agency (Danantara).

"The Company will always support and carry out the mandate of laws and regulations and will implement the demutualization of the Indonesia Stock Exchange in accordance with applicable provisions," he said.

Jeffrey emphasized that the IDX is committed to implementing the provisions of laws and regulations related to demutualization and ensuring that the process continues to maintain the independence of the capital market.

According to him, the entry of new parties as shareholders of the IDX will not reduce the independence of the exchange.

Previously, BPI Danantara had expressed an interest in buying shares of the IDX through the demutualization process, and the plan is still in the discussion stage with the OJK and the IDX management.

Danantara has not revealed the amount of shares of the IDX that will be purchased, but the process of purchasing the shares is said not to take long to be announced to the public.

"Yes, our demut is still in process, both with OJK and also with the Board of Directors of the Exchange, yes, God willing, in the next few months it can be completed," said BPI Danantara's Chief Investment Officer (CIO), Pandu Sjahrir, to the media, Monday, August 10.