IDX Officially Changes Free Float Rules to Minimum 15 Percent

PT Bursa Efek Indonesia (IDX) has officially increased the minimum free float limit for shares to 15 percent from the previous 7.5 percent. This regulation applies following the IDX’s establishment of changes to Exchange Regulation Number I-A concerning the Listing of Shares and Equity Securities Other than Shares Issued by Listed Companies. “This change has been carried out through the Rule Making Rule process and has obtained approval from the Financial Services Authority,” 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, raised the minimum free float limit, and changed the free float requirements for initial listings to be based on market capitalisation. The new free float requirements are divided into categories of 15 percent, 20 percent, and 25 percent of the total shares to be listed. Kautsar stated that the IDX is providing a transition period for listed companies to meet the minimum free float criteria. Companies with a minimum share market capitalisation of Rp 5 trillion and a free float level below 12.5 percent are required to meet a 12.5 percent free float by no later than 31 March 2025 and a 15 percent free float by no later than 31 March 2028. Then, companies that currently have a free float level of 12.5 percent to 15 percent are required to meet the 15 percent free float provision by no later than 31 March 2027. Meanwhile, companies with a market capitalisation below Rp 5 trillion are given until 31 March 2029 to meet the 15 percent free float. Kautsar stated that the IDX will conduct socialisation and assistance for listed companies to meet the new free float provisions. He mentioned that the IDX will provide hot desks, hold roadshows and live public exposes to connect companies with investors, and conduct capacity building related to investor relations functions. “Overall, these efforts are expected to encourage increased transparency, quality, and compliance of listed companies with applicable provisions, as well as sustainably enhance investor confidence in the Indonesian capital market,” said Kautsar.