BSI Targets Meeting Share Free Float Requirement Before 2030

PT Bank Syariah Indonesia (Persero) Tbk., or BSI, is targeting to meet the minimum share free float threshold of 15 per cent before 2030. “This year, we will make our best effort to surpass the threshold,” said BSI President Director Anggoro Eko Cahyo in South Jakarta on Wednesday, 1 July 2026. Anggoro stated that the company has several corporate actions in the pipeline to boost the minimum public shareholding level, which previously stood at only 7.5 per cent. To achieve the target, BSI will coordinate with the Daya Anagata Nusantara Investment Management Agency (Danantara). Anggoro said BSI has already discussed a number of options to reach the free float target with Danantara. However, as BSI’s largest shareholder, Danantara is the party authorised to decide on the corporate action. BSI, Anggoro noted, will act as the executor. “We are more inclined to simply follow whichever option the shareholder wishes to use,” he said. Anggoro declined to elaborate on the potential corporate actions, citing ongoing discussions. “If we speak too soon, we know there are many things regarding the stock that we must safeguard,” he said. The change to the minimum free float threshold was set by the Indonesia Stock Exchange (IDX) following an amendment to Exchange Rule Number I-A concerning the Listing of Shares and Equity-Type Securities Other Than Shares Issued by Listed Companies. “This amendment has undergone the Rule Making Rule process and has received approval from the Financial Services Authority,” said IDX Corporate Secretary Kautsar Primadi Nurahmad in an official statement on Tuesday, 31 March 2026. The IDX also adjusted the definition of free float shares, raised the minimum free float threshold, and changed 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 shares to be listed. Kautsar said 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 at the latest, and a 15 per cent free float by 31 March 2028. Meanwhile, companies currently with a free float level between 12.5 per cent and 15 per cent must comply with the 15 per cent free float requirement by 31 March 2027 at the latest. Companies with a market capitalisation below Rp 5 trillion are given until 31 March 2029 to meet the 15 per cent free float.