BSI Targets Meeting Share Free Float Requirement Before 2030
PT Bank Syariah Indonesia (Persero) Tbk., known as BSI, aims to meet the minimum free float share threshold of 15 per cent before 2030. “This year, we will make our best effort to exceed the threshold,” said BSI President Director Anggoro Eko Cahyo in South Jakarta on Wednesday, 1 July 202lag.
Anggoro stated that the company has several corporate actions planned to pursue the increase in the minimum public shareholding limit, which was previously only 7.5 per cent.
To achieve this target, Anggoro noted that BSI will coordinate with the Daya Anagata Nusantara Investment Management Agency. He mentioned that BSI has already discussed several options for reaching the free float target with Danantara.
However, as BSI’s largest shareholder, Danantara is the party authorised to determine the corporate actions. Anggoro added that BSI will act as the executor. “We are more in a position to follow whichever option the shareholder chooses,” he said.
Anggoro declined to elaborate on the potential corporate actions as they are still under discussion. “If we speak too early, we know there are many aspects of the stock that we must protect,” he remarked.
The change in the minimum free float threshold was established by the Indonesia Stock Exchange (IDX) following amendments to Exchange Regulation Number I-A regarding the Listing of Shares and Equity-Based Securities Other Than Shares Issued by Listed Companies.
“This change was implemented through a rule-making process and has received approval from the Financial Services Authority (OJK),” said IDX Corporate Secretary Kautsar Primadi Nurahmad in an official statement on Tuesday, 31 March 2026.
The IDX has also adjusted the definition of free float shares, raising the minimum threshold and changing the free float requirements for initial listing to be based on market capitalisation. The new free float requirements are divided into categories of 15 per cent, 20 per cent, and 25 per cent of the total listed shares.
Kautsar stated that the IDX is providing a transition period for listed companies to meet the minimum free float criteria. Companies with a minimum market capitalisation of Rp 5 trillion and a free float level below 12.5 per cent are required to meet a 12.5 per cent free float by 31 March 2025 and a 15 per cent free float by 31 March 2028.
Furthermore, companies currently possessing a free float level between 12.5 per cent and 15 per cent must meet the 15 per cent requirement by 31 March 2027. Meanwhile, companies with a market capitalisation below Rp 5 trillion have until 31 March 2029 to achieve a 15 per cent free float.