The Indonesia Stock Exchange (IDX) has added 37 companies to its list of stocks with highly concentrated shareholding, a structural adjustment aimed at improving market transparency and meeting international index criteria.
IDX CEO Jeffrey Hendrik announced the update on Tuesday, noting that the exchange has also published a broader list of stocks with concentrated ownership to align with reforms requested by MSCI.
The initiative is part of ongoing efforts to enhance governance standards and broaden the investor base for Indonesian equities.
The development comes as Indonesia remains under review for a potential upgrade in its global market classification.
S&P Dow Jones Indices placed the country on its watchlist for a possible reclassification in 2027, signaling that progress on structural reforms could lead to greater inclusion in global benchmarks.
Such an upgrade would likely trigger significant inflows from passive funds tracking emerging or frontier market indices.