IDX Officially Sets Minimum Free Float Limit at 15 Percent
PT Bursa Efek Indonesia (IDX) has set a minimum free float limit of 15 percent through an update to Exchange Regulation Number I-A, which will take effect on 31 March 2026. This policy represents a further step in promoting the quality of listed companies and strengthening investor confidence in the capital market.
IDX Corporate Secretary Kautsar Primadi Nurahmad stated that the change underwent the Rule Making Rule (RMR) process and received approval from the Financial Services Authority (OJK). This adjustment aligns with the agenda to accelerate capital market reforms.
“This adjustment is part of efforts to accelerate Indonesia’s capital market reforms in order to improve the quality of listed companies, strengthen governance, and promote more optimal investor protection,” Kautsar said in his statement on Tuesday (31/3/2026).
He explained that IDX is not only raising the minimum free float limit to remain listed on the exchange to 15 percent but also adjusting the free float requirements at the time of initial listing. The new scheme uses a market capitalisation-based approach with tiers of 15 percent, 20 percent, and 25 percent of the total shares listed.
In addition, IDX has established special free float provisions for prospective listed companies with certain public offering values. IDX also allows companies to apply for the classification of certain shareholders to be counted as free float.
To support the implementation of the policy, IDX provides a gradual transition period based on market capitalisation as of 31 March 2026. Companies with a minimum capitalisation of Rp5 trillion and free float below 12.5 percent must meet 12.5 percent by no later than 31 March 2027 and reach 15 percent by 31 March 2028.
Meanwhile, companies with free float between 12.5 percent and 15 percent must comply with the 15 percent requirement by no later than 31 March 2027. Companies with capitalisation below Rp5 trillion are given until 31 March 2029 to meet the requirement.