Stock Exchange Adjusts Timeline for 15 Per Cent Free Float Implementation Due to Eid Holiday

Jakarta — The Acting Chief Executive of PT Bursa Efek Indonesia (BEI), Jeffrey Hendrik, has announced that the Stock Exchange will adjust the implementation timeline for the minimum free float requirement of 15 per cent in light of the numerous stock market holidays scheduled for the week of mid-March 2026 to commemorate Eid al-Fitr 1447 Hijriah.

Hendrik disclosed that the draft regulation is currently undergoing discussion at the Financial Services Authority (OJK), with BEI awaiting their approval. “It is still under discussion with OJK,” Hendrik stated following the “Empowering Sharia Investment Journey with IDX Mobile Sharia” event at BEI headquarters in Jakarta on Monday.

Hendrik confirmed that the target implementation date for the 15 per cent minimum free float requirement remains March 2026. However, he noted that there are numerous stock market holidays during the third week of March 2026, necessitating schedule adjustments between BEI and OJK regarding the implementation of the minimum free float requirement.

“The third week of March 2026 has many holidays. Of course, we will adjust the timeline accordingly,” Hendrik said.

Given the holiday schedule, when asked about the possibility of OJK approving the draft regulation by the end of March 2026, Hendrik requested that stakeholders closely monitor the ongoing discussion process at OJK.

BEI had previously confirmed that the draft changes to the minimum free float requirement regulation had been finalised internally and are awaiting OJK approval. Hendrik noted that the regulatory development process completed a public hearing phase that ran until 19 February 2026, after which the draft was submitted to the Board of Commissioners for approval before being forwarded to OJK.