IDX Tightens Listing Rules for Shares and Non-Share Equity Securities: Free-Float Increased to 15% with Phased Compliance by Market Capitalization

In order to organize the trading of securities in a way that is orderly, fair, efficient and in line with market developments, the Board of Directors (“ BoD ”) of PT Bursa Efek Indonesia (“ BEI ”) recently issued Rule No. I-A (“ Current Rule I-A ”) on the Listing of Shares and Equity Securities Other Than Shares Issued by Listed Companies, which is set out under the Appendix to Decree of the Board of Directors of BEI No. KEP-00045/BEI/03-2026 of 2026 (“ Decree 00045/2026 ”). Upon its enforcement on 31 March 2026, the new framework simultaneously repealed and replaced the following regulatory frameworks: [1]