Indonesia Exchange Outlines Scheme for Listed Companies to Meet 15 Percent Free Float Requirement
Jakarta — PT Bursa Efek Indonesia (BEI) is preparing measures to enhance the quality of the stock market by encouraging listed companies to increase the portion of shares in public circulation, or minimum free float, to 15 percent.
I Gede Nyoman Yetna, Director of Company Assessment at BEI, stated that increasing free float is part of capital market reforms currently being prepared by the exchange regulator. The policy is being discussed in the concept of changes to Regulation I-A, which remains under development.
“BEI continues to encourage improved market quality, including through increasing the minimum number of free float shares for all Listed Companies. This has been pursued as per the concept of changes to Regulation I-A which is in the development process,” Nyoman told reporters on Thursday evening (12 March 2026).
Nyoman noted that upon implementation of the new regulation, BEI will conduct outreach to listed companies regarding the obligation to meet a minimum free float of 15 percent, as well as various schemes available to increase the portion of publicly-held shares.
Companies can meet the requirement through various corporate actions such as share divestment by controlling shareholders, rights issues, or other schemes enabling an increase in shares held by the public.
“This can be done through divestment schemes, rights issues, and other corporate actions that allow for increasing the free float of listed companies,” he explained.
He assured that BEI possesses the resources and capability to ensure all capital market reform initiatives proceed smoothly, as the programme is being conducted jointly with the Financial Services Authority (OJK) and other Self-Regulatory Organisation (SRO) bodies.
Various initiatives to strengthen market regulation and infrastructure have been prepared in phases, taking into account system readiness, operational processes, and inter-institutional coordination.
One reform measure already implemented is the publication of a list of shareholders with ownership above 1 percent, which is now accessible to the public through BEI’s official website.
Additionally, OJK and BEI are preparing several new legal products as part of the capital market reform action plan, including the provision for a minimum free float of 15 percent. Other regulations under preparation include mandatory continuous education requirements for market participants and requirements that financial statement preparers of listed companies possess accounting certifications.