Fate of Gocap Shareholders Hangs in the Balance

Jakarta, CNBC Indonesia - The fate of shares priced at Rp50, long known as ‘gocap’ stocks, is hanging in the balance. The Indonesia Stock Exchange (BEI) is preparing to remove the minimum share price limit of Rp50 per share.

The policy could change investors’ perception that Rp50 is the lowest possible share price on the Indonesia Stock Exchange. If the limit is officially removed, shares currently sitting at the gocap level could potentially be traded below Rp50.

BEI President Director Jeffrey Hendrik said the removal of the minimum price limit is intended to provide better liquidity access while improving the price discovery process in Indonesia’s capital market.

“To provide better liquidity access and price discovery, we will remove the Rp50 minimum price limit,” Jeffrey told reporters, as quoted on Friday (21/8/2026).

Until now, Rp50 has served as the lower trading limit for shares on the BEI. This condition means investors holding shares at the gocap level at least have a minimum price floor through the trading mechanism.

However, if the new policy is implemented, the Rp50 price floor will disappear. Shares already at the gocap level will no longer have that lower limit and could theoretically move to lower prices.

The BEI has not yet disclosed the detailed mechanics of the new trading arrangement. The exchange is still refining the policy design while considering input from various market participants.

Jeffrey said the BEI has discussed the matter with the Indonesian Securities Companies Association (APEI) and the Indonesian Investment Managers Association (AMII) on 19 August 2026. The exchange has also sought views from global investors.

“Details will be announced later after gathering input from market participants and assessing the readiness of trading platforms at Exchange Members,” he said.