Kalbe Farma considers delisting EPMT if free float requirements cannot be met
Jakarta (ANTARA) - PT Kalbe Farram Tbk (KLBF) is considering the possibility of delisting its subsidiary, PT Enseval Putera Megatrading Tbk (EPMT), if efforts to increase the company’s public share portion (free float) prove difficult under the new regulations set by the Indonesia Stock Exchange (IDX).
Kalbe Farma Director Kartika Setiabudy acknowledged that the free float of one of its subsidiaries does not yet meet the new requirements established by the IDX, prompting the company to review several options to ensure compliance with capital market regulations.
“It is true that one of our subsidiaries currently does not meet the new free float requirements requested by the IDX,” Kartika stated during a Public Expose Live event in Jakarta on Friday.
Kartika revealed that the company is currently conducting internal calculations while exploring the possibility of obtaining additional free float from external sources. This approach is the primary option being considered, as increasing public ownership must be carried out gradually in accordance with IDX regulations, specifically in 2027 and 2028.
However, if increasing the free float is deemed difficult to achieve, Kalbe Farma does not rule out corporate action in the form of delisting EPMT. “At the same time, we are also exploring the potential for delisting should the increase in free float prove difficult to implement,” said Kartika.
She continued, noting that no final decision has been made regarding either option, as both increasing the free float and delisting are still in the exploration and calculation stages. She ensured that all options pursued will consider IDX regulations and the established deadlines.
“Therefore, we are currently exploring these options to comply with IDX regulations, as we are part of the Indonesian capital market,” said Kartika.
Furthermore, Kartika stated that the company is open to input from market participants to determine the most appropriate course of action to meet these requirements. “We also remain open to market feedback regarding the options we must explore and implement in accordance with the expected timeline,” added Kartika.
EPMT is a company engaged in the distribution and trading of health products and is a subsidiary of Kalbe Farma. Currently, EPMT’s free float stands at approximately 7.53 per cent, with PT Kalbe Farma Tbk (KLBF) as the majority shareholder with 92.47 per cent.
Meanwhile, the IDX has mandated that listed companies must increase and meet a minimum free float of 12.5 per cent by 31 March 2027, and subsequently must reach 15 per cent by 31 March 2028.