Jakarta. Indonesia Stock Exchange (IDX) estimates the market will need to absorb an additional Rp 187 trillion ($11 billion) worth of shares for listed companies to meet the 15% minimum free float requirement.

Based on the Monthly Securities Ownership Registration Report (LBRE) as of Dec. 31, 2025, 267 listed firms have met the current 7.5% minimum public ownership threshold but have yet to reach the 15% level.

“The potential additional market capitalization from the 267 listed companies that need to be absorbed by the market to meet the 15% free float requirement is around Rp 187 trillion,” IDX Director of Corporate Assessment I Gede Nyoman Yetna said on Thursday.

Separately, the exchange reported that nearly 900 listed companies have complied with the 7.5% minimum free float requirement, referring to the same LBRE document as of Dec. 31, 2025.

In a written statement, IDX said 894 companies had submitted their LBRE and met provisions V.1.1 and V.1.2 under Exchange Regulation No. I-A and Regulation No. I-V.

Provision V.1.1 regulates the minimum public shareholding (free float) requirement, while V.1.2 sets the minimum number of shareholders a listed company must have. Under provision V.1.1 of Regulation No. I-A, companies listed on the Main Board and Development Board must maintain at least 50 million free float shares and a minimum 7.5% of total listed shares. For the Acceleration Board, Regulation No. I-V requires a minimum free float of 7.5% of total listed shares.

Provision V.1.2 in both regulations also requires listed companies to have at least 300 shareholders registered under a Single Investor Identification (SID).

“Monitoring of compliance with these obligations is carried out based on LBRE data submitted by listed companies in accordance with Exchange Regulation No. I-E on Information Disclosure Obligations,” IDX said in a recent statement.

For data on SID-registered shareholders, IDX refers to records from Kustodian Sentral Efek Indonesia (KSEI).

However, 49 listed companies have yet to comply with the requirements. Of these, 18 submitted their LBRE but failed to meet the minimum free float and/or shareholder criteria. Another 31 companies did not submit their LBRE as of Dec. 31, 2025, leaving the exchange without sufficient data to assess compliance.

In addition, 13 listed firms were exempted from meeting provisions V.1.1 and/or V.1.2 under the applicable regulations.

Earlier, IDX suspended trading in 38 listed companies as of Jan. 29, 2026. The sanctions were announced on Jan. 30, 2026, in relation to compliance with free float obligations as of Dec. 31, 2025.

Companies that have yet to meet the requirements include Alumindo Light Metal Industry (ALMI), Cahaya Bintang Medan (CBMF), Cowell Development (COWL), Dewata Freightinternational (DEAL), and Saraswati Griya Lestari (HOTL).