Complete, Here Are the Stages of the New 15% Free Float Regulation

Jakarta, CNBC Indonesia — The Indonesia Stock Exchange (BEI) has outlined the stages for implementing the new provision to increase the free float threshold for shares listed on the exchange, from 7.5% to 15%.

Acting CEO of BEI Jeffrey Hendrik stated that the free float regulation is a revision to Regulation Number I-A on the Listing of Shares and Equity Securities Other Than Shares Issued by Listed Companies, effective as of 31 March 2026.

“The fulfilment of the minimum 15% free float requirement will be carried out in stages with targets set at each stage, accompanied by ongoing monitoring and support to ensure achievement of the final target within the specified timeframe,” explained Jeffrey during a socialisation event on the achievements of Indonesia’s capital market transparency reform, at the BEI Building, Jakarta, on Thursday (2/4/2026).

For example, companies with a market capitalisation above Rp5 trillion and an existing free float below 12.5% will be given one year to reach the 12.5% target. Subsequently, those companies must achieve 15% by the end of the second year, specifically on 31 March 2028.

Meanwhile, for companies with a market capitalisation above Rp5 trillion whose current free float is between 12.5% and 15%, they are given one year to reach the 15% target on 31 March 2027.

As for the third group, companies with a market capitalisation below Rp5 trillion, all must meet the 15% free float requirement within a three-year period.

Further details on the complete stages of implementing the 15% free float at BEI are as follows: