IDX Changes Criteria for IDX30, LQ45, and IDX80 Indices

JAKARTA, KOMPAS.com - PT Bursa Efek Indonesia (IDX) has adjusted the evaluation criteria for the constituents of its main indices, namely IDX30, LQ45, and IDX80.

The authority has added a new criterion to the index evaluation, namely excluding stocks that are on the High Shareholding Concentration list or stocks with high ownership concentration (HSC) from these three main indices.

The IDX itself has released nine issuers that are on the HSC list. These stocks are owned by a small number of shareholders who collectively control more than 95% of the ownership.

“The Indonesia Stock Exchange (IDX) has made adjustments to the evaluation criteria for index constituents as follows,” the IDX stated in an announcement on Tuesday (21/4/2026).

Then, meeting the minimum free float market capitalisation limit set by the IDX, at most one day not traded in the last six months, having a minimum free float ratio of 10% or in accordance with the free float fulfilment provisions in Regulation I-A (whichever is higher), and not being on the high shareholding concentration (HSC) list.

“The definition of free float follows the provisions as regulated in Regulation Number I-A as of 31 March 2026 and Circular Letter Number SE 00004/IDX/03-2026,” the IDX continued.

The adjustment will apply to the major evaluation in April 2026 and will be effective on the first trading day of May 2026.

For comparison, under the previous criteria, stocks entering IDX80 were required not to have been suspended and to be actively traded every day in the last six months.

However, the new rule replaces this with a maximum tolerance of one day not traded, while adding the HSC filter as a main requirement.

This comes as both of those stocks are on the HSC list, which now becomes the main obstacle to remaining in the index. If removed, the potential outflow of funds from passive funds that reference those indices is considered quite significant.

Based on IDX data, there are nine issuers in that category. These stocks are owned by a small number of shareholders who collectively control more than 95% of the ownership.