MBAP Responds to Stock Exchange Inquiry Regarding Free Float Requirements
PT Mitrabain Adiperdana Tbk (MBAP) has provided an official explanation to the Indonesia Stock Exchange (IDX) regarding plans to meet minimum free float requirements, following inquiries from the exchange authorities.
MBAP revealed that according to the monthly share ownership registration report as of 31 August 2026, submitted by the Company’s Share Registrar, the Company’s free float stands at 9.702%, equivalent to 119,069,300 shares of the total shares listed on the Exchange.
With this position, the Company acknowledges that it has not yet reached the 15% threshold as stipulated in Provision V.1.1 of Exchange Regulation Number I-A. Nevertheless, the Company stated that it understands the fulfilment of this provision is to be carried out in accordance with the category and transition period applicable to the Company under Exchange regulations.
MBAP explained that increasing the minimum free float to 15% will necessitate adjustments to the Company’s share ownership structure, as well as the determination of a mechanism appropriate for the Company’s condition and capital market regulations.
The Company stated that as of the submission of the letter, it is still conducting a thorough study to determine the most suitable fulfilment mechanism. This study includes verifying the share ownership composition, ensuring compliance with legal and regulatory aspects, assessing the impact on capital structure, and the approval process in accordance with the Company’s governance and authority. Therefore, MBAP emphasised that no final decision has been made regarding the fulfilment of the Company’s free float shares.
As a commitment to meeting the minimum free float requirement according to market cap category and the applicable transition period, MBAP outlined several planned stages, namely:
Conducting verification and reconciliation of share ownership composition data based on data from the Share Registrar;
Studying options and/or alternative fulfilment mechanisms permitted under capital market regulations;
Coordinating with Company organs, major shareholders, and/or controlling shareholders, as well as other relevant parties if necessary;
Obtaining internal decisions and approvals in accordance with the Company’s articles of association and governance;
Developing an implementation plan based on the approved mechanism; and
Fulfilling information disclosure obligations in accordance with applicable regulations if the determined mechanism involves corporate actions.
The Company emphasised that these stages will be implemented gradually while adhering to capital market regulations, internal approval processes, and the applicable transition period. MBAP is also committed to providing updates to the Exchange once a decision or relevant development regarding the free float fulfilment mechanism is reached.
In the letter, MBAP also requested support from the IDX to ensure the free float fulfilment process can be executed according to regulations, including technical consultations and explanations regarding the criteria and calculation of free float shares based on the Company’s ownership structure, guidance on procedures and documents required for the chosen mechanism, and the opportunity for further consultation with the Exchange after the Company completes its initial study.
For information, based on the Board of Directors’ Decree of the Exchange Number Kep-00045/BEI/03-2026 regarding the Amendment of Regulation Number I-A concerning the Listing of Shares and Equity Securities other than Shares Issued by Listed Companies, every listed company is required to meet a minimum free float requirement of at least 15% of the total listed shares, with fulfilment deadlines subject to the transition period applicable to each category of listed company.