IDX ready to lower minimum share price limit to Rp1

The Indonesia Stock Exchange (IDX) plans to adjust the minimum price limit for shares traded on the regular and cash markets from the current Rp50 per share to Rp1 per share.

IDX President Director Jeffrey Hendrik said the policy is intended to provide broader transaction space while improving price discovery in the market.

“To provide better liquidity access and price discovery, we will remove the Rp50 minimum price limit,” Jeffrey told journalists in Jakarta on Thursday.

Jeffrey confirmed that the IDX has held discussions with the Indonesian Securities Companies Association (APEI) and the Indonesian Investment Managers Association (AMII) on Wednesday (19/8) to gather responses from market participants.

He also confirmed that the IDX has held discussions with investors at the global level.

“Yesterday, on 19 August, discussions were held with APEI and AMII to obtain responses from stock market participants. Discussions with global investors have also been conducted,” Jeffrey said.

Regarding the implementation of the Rp1 minimum share price limit, he said the details will be announced after gathering input from market participants and assessing the readiness of trading platforms at Exchange Members.

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

Based on information gathered, the change in the minimum price limit will allow shares currently at the Rp50 level to be traded within a wider price range.

The IDX also estimates that transaction frequency and value could increase by around two to three times if shares on the Special Monitoring Board currently traded through call auction can enter the regular market with a continuous auction mechanism.

In addition to the change in the minimum price limit, the IDX also plans to adjust the auto rejection classification.

For lower auto rejection (ARB), shares priced at Rp1–10 will use a Rp1 limit based on nominal value, rather than a percentage.

Meanwhile, shares in the Rp11–200, Rp201–5,000 and above Rp5,000 ranges will have an ARB of 15 percent.

For upper auto rejection (ARA), shares priced at Rp1–10 will use a Rp1 limit based on nominal value. Shares in the Rp11–200 range will have an ARA of 35 percent, then Rp201–5,000 at 25 percent and above Rp5,000 at 20 percent.

For information, the current provisions set an ARB of 15 percent for all price ranges.

Meanwhile, ARA is set at 35 percent for shares in the Rp50–200 range, 25 percent for Rp201–5,000, and 20 percent for shares above Rp5,000.

The current provisions also do not specifically regulate ARA limits for shares in the Rp1–10 range.

In line with the plan, the IDX also plans to remove several criteria from the Special Monitoring Board. The move is intended to align those criteria with the planned change in the minimum price limit.

Under IDX regulations, two criteria will be removed: criterion 1 concerning shares with an average price below Rp51 and low liquidity over the past three months, and criterion 11.2 concerning issuers that no longer meet other Special Monitoring Board criteria but whose share price has not yet reached Rp50.

The change in the minimum price limit on the regular and cash markets as well as the new auto rejection classification is scheduled to be tested together with exchange members on 22 and 29 August 2026.

The IDX is targeting the changes to begin implementation on 7 September 2026.