Jakarta –
The Indonesian Stock Exchange (BEI) will report the number of issuers that do not meet the free float requirements or minimum public share ownership of 7.5%. As is known, the Exchange has set a deadline for fulfilling public shares in December 2023.
“Regarding the increase in free float in the future, of course we are looking at current developments. We will monitor it later. Hopefully after January 10 we will tell you how many do not comply,” said IDX Company Valuation Director I Gede Nyoman Yetna at BEI Jakarta, Tuesday (2/1/2023).
Nyoman said that December 2023 is the deadline for fulfilling the free float. He said that his party had given issuers 2 years to fulfill these provisions.
“December 2023 is the deadline for us to monitor the free float because it has been in effect since 2021, we have given 2 years, 2022-2023, to ensure that 7.5% is achieved,” he said.
He continued, on January 10, the Securities Administration Bureau (BAE) will provide reports on issuers that have not met the free float provisions.
“At what point will we monitor on January 10, because on January 10 a report will come out from BAE,” he said.
His party has not spoken further regarding plans to increase the percentage of public shares. He said, within the minimum requirement of 7.5% alone, his party had expanded coverage to public shares.
“Well, we are trying to increase the 7.5%, but we will have to wait a while, because we have already increased the 7.5% in 2023 in terms of the scope. So we really say it is not controlling 7.5%. “, not the main shareholder, not the BOD BOC, not the treasury, so the quality of the scope of public share ownership is wider and of course our goals are stricter. So, we hope that the 7.5% can help liquidity,” he explained.
Previously, the IDX emphasized that it would take firm steps against companies that do not meet the free float requirements or public share ownership of at least 7.5% before the deadline of December 21 2023.
This provision is contained in the Amendment to Regulation Number IA concerning the Listing of Shares and Equity Securities Other than Shares Issued by Listed Companies. This regulation will come into effect on December 21, 2021. In this regulation, companies can remain listed on the stock exchange if they meet these criteria for a maximum of two years after the regulation comes into effect.
Nyoman warned against companies that were not making any efforts to meet these targets. Issuers will be included in a special monitoring board as part of companies that do not comply with the provisions. This means that potential delisting awaits.
“Companies that don’t make any effort at all. It’s like in a simple sentence, if a student just keeps quiet and doesn’t do anything. Yes, we will put that on a special monitoring board as part of companies whose shares do not meet the requirements,” said Nyoman. when met at the BEI Building, Jakarta, Monday (9/10).
(acd/rrd)
2024-01-02 07:26:57
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