IDX to Add 37 New Issuers in High Shareholding Concentration List

IDX to Add 37 New Issuers in High Shareholding Concentration List

IDX to Add 37 New Issuers – The Indonesia Stock Exchange (IDX) has announced its decision to add 37 new issuers to the list of high shareholding concentration (HSC) companies, marking a significant step in refining the criteria for identifying concentrated ownership in the capital market. This update, part of the IDX’s ongoing efforts to enhance transparency and investor confidence, introduces a new metric called the ‘price impact ratio’ to assess companies with substantial control by major shareholders.

The New Price Impact Ratio Metric

According to Jeffrey Hendrik, head of the IDX, the revised methodology aims to provide a more accurate reflection of market dynamics by incorporating the price impact ratio. This metric evaluates how stock price movements are influenced by trading volume, particularly highlighting companies where minimal trading activity correlates with significant price fluctuations. Such firms are deemed to have a higher price impact ratio, which indicates greater sensitivity to ownership concentration.

“The introduction of the price impact ratio is a crucial development in modernizing capital market regulations. It allows us to better identify companies where shareholding concentration may distort market efficiency,” Hendrik stated during a press conference at the IDX office on Tuesday, July 14, 2026.

The price impact ratio is now applied to companies with a market capitalization exceeding Rp10 trillion, a category that currently includes 171 firms. Following the updated criteria, an additional 37 companies have been classified as HSC, bringing the total to 51. This adjustment ensures that firms with high ownership concentration are more effectively monitored for potential market distortions.

Implications for the Capital Market

The IDX’s decision to classify these 37 new issuers as HSC is expected to have far-reaching implications for investors and market participants. Companies on the list will be systematically removed from key indices such as the LQ45, IDX30, and IDX80, which are widely used as benchmarks for market performance. This move underscores the IDX’s commitment to ensuring that indices reflect a more representative and stable market environment.

‘By integrating the price impact ratio into our assessment, we are better equipped to address market imbalances. The LQ45 review begins at the end of July and will take effect in early August. By announcing this update now, we ensure the new methodology is implemented during the LQ45 review and subsequent evaluations every three months,’ Hendrik added.

Analysts suggest that the updated HSC list will encourage more informed investment decisions, as it highlights companies where major shareholders may have disproportionate influence. This transparency is critical for fostering trust among investors, particularly in a market where concentrated ownership can lead to volatility or inefficiencies. The IDX’s quarterly review process will allow for continuous adjustments to the list, ensuring it remains aligned with evolving market conditions.

The addition of 37 new issuers to the HSC list reflects the IDX’s proactive approach to addressing systemic risks in the capital market. With increased scrutiny on concentrated ownership, the exchange hopes to promote a more equitable distribution of shares and reduce the likelihood of market manipulation. Investors are advised to closely monitor the HSC list, as it may signal shifts in corporate governance practices or changes in market behavior.