Indonesian sovereign wealth fund Danantara is looking to acquire a stake in the local bourse, the Jakarta Globe reports, citing Rosan Roeslani, chief executive officer of the wealth fund.
“We see that in almost all stock exchanges around the world, sovereign wealth funds are involved as shareholders. The range can be 15%, 25%, 30%, or even more,” Rosan is quoted as saying in the news report published on February 5.
The move comes after the government announced that it intends to reform the Indonesia Stock Exchange (IDX), including possibly demutualising the bourse, after MSCI raised concerns about limited data transparency and warned it may cut the country’s weighting in its indexes.
The index provider warned that it may downgrade Indonesia from emerging to frontier market if it doesn’t see any improvement by the third quarter of 2026.
The IDX is a non-profit self-regulatory organisation owned by member securities firms.
Rosan says Danantara has not yet determined the size of its potential stake in the bourse.
“We will first study how much we want to invest. We have our own criteria when entering and making investments,” he says. “This is not limited to Danantara. Other sovereign wealth funds could also come in [as shareholders of IDX].”
Danantara spokespersons did not immediately respond to questions from Asia Asset Management.
