Jakarta. The Indonesia Stock Exchange (IDX) has officially implemented a minimum free float requirement of 15% for all listed companies, marking a key step in accelerating capital market reform.

IDX Corporate Secretary Kautsar Primadi Nurahmad said the increase from the previous 7.5% threshold followed a formal rule-making process and received approval from the Financial Services Authority (OJK).

“The measure is aimed at improving the quality of listed companies, strengthening corporate governance, and enhancing investor protection,” Kautsar said in a statement on Tuesday.

The exchange has provided a transition period for companies to comply with the new requirement. Large-cap firms are required to meet the minimum threshold gradually by 2028, while smaller-cap companies have until 2029.

To support implementation, IDX will roll out various engagement programs, including roadshows and live public exposés, to boost investor participation.

The exchange is also encouraging stronger adoption of good corporate governance (GCG), including improvements in financial reporting through the use of certified professionals and mandatory continuing education for directors, commissioners, and audit committees.

“This adjustment is part of efforts to accelerate Indonesia’s capital market reform, improve the quality of listed companies, strengthen governance, and provide more optimal investor protection,” Kautsar said.

Under OJK regulations, listed companies that fail to meet the free float threshold within the stipulated timeframe may face delisting.

The IDX currently hosts 956 listed companies, with the number showing a consistent upward trend in recent years.