As part of the ongoing capital market transparency reform in Indonesia, Indonesia Stock Exchange (IDX) continues to enhance its policies and market mechanisms to support a fair, orderly, and efficient securities market. These enhancements are carried out while ensuring the consistent implementation and effectiveness of existing policies. As part of this initiative, IDX has refined the methodology for determining High Shareholding Concentration (HSC) in relation to the share ownership structure in the form of both scrip and scripless shares.
HSC methodology has been enhanced by introducing a new criterion, the price impact ratio, for stocks with a market capitalization exceeding IDR10 trillion. This criterion measures the magnitude of a stock’s price movement relative to its trading activity (velocity). Velocity is an indicator that measures the level of trading activity by comparing the average trading volume with the number free float shares. The new criterion will be calculated and reviewed on a quarterly basis. Meanwhile, trigger factors based on IDX’s market surveillance actions will continue to apply and will be assessed incidentally.
Following the implementation of the enhanced HSC methodology, 37 additional stocks have been classified under the HSC category, bringing the total number of HSC stocks to 51.
IDX hopes the enhanced HSC criteria to serve as a valuable reference for investors in understanding stock trading characteristics, while further demonstrating IDX’s commitment to advancing Indonesia’s capital market transparency reform. Through the continuous enhancement of its policies and market mechanisms, IDX remains committed to strengthening investor confidence and fostering a more credible, transparent, and competitive Indonesia capital market.
Further information on the HSC list is available on the IDX website at www.idx.co.id > Listed Companies > High Shareholding Concentration.
