327 Issuers Yet to Meet 15% Free Float Requirement

The Indonesia Stock Exchange (IDX) records that 327 listed companies, or around 35.82 per cent of companies on the bourse, have yet to meet the minimum free float requirement of 15 per cent. The figure is based on the Monthly Report on Share Ownership of Listed Companies as of 31 May 2026.

IDX Director of Company Valuation Saidu Solihin said the number had changed relatively little from 31 March 2026, when it stood at 323 companies. “The bourse will next monitor compliance with the free float rule based on the report as of 30 June 2026, which listed companies must submit by 10 July 2026 at the latest,” he said in a statement to the media on Thursday, 9 July 2026.

Saidu said the IDX continues to take various steps to support compliance with the free float requirement. These include socialising amendments to Rule I-A, sending reminders to listed companies about the free float transition, capacity building to improve company performance, establishing a free float monitoring task force, and holding live public exposes. The IDX will also organise roadshows introducing listed companies to investors at home and abroad from August 2026.

According to Saidu, the reform is not intended to add to the administrative burden on prospective issuers, but rather to strengthen the quality of the Indonesian capital market. “A more credible, transparent market with good liquidity will ultimately deliver long-term benefits to all stakeholders, including companies that use the capital market as a source of funding,” he said.

Saidu added that the IDX is paying attention to companies’ readiness to implement the requirement. Since the new free float rule took effect in March 2026, listed companies have been given a three-year transition period to meet the requirement gradually.