Indonesia to finalize stock exchange demutualization rules within 3 months

JAKARTA, June 30 (Xinhua) -- Indonesia's Financial Services Authority (OJK) aims to finalize regulations on the demutualization of the Indonesia Stock Exchange (IDX) within the next three months, an official said on Tuesday.

Hasan Fawzi, OJK's chief executive of capital market, financial derivatives and carbon exchange supervision, said the upcoming rules would transform the IDX from a mutual organization into a demutualized entity.

The rules will place a cap on majority ownership to prevent ownership domination, the official said, emphasizing that the demutualization will be carried out while maintaining the exchange's independence.

"It will remain a market regulator that ensures public interests are prioritized over the interests of business-motivated shareholders in the future," Fawzi said. Enditem