As part of the Indonesian capital markets regulators efforts to recover the Indonesian markets following Morgan Stanley Capital International recommendation earlier this year, the Indonesia Stock Exchange revised its listing rule on 31 March 2026. The 2026 Listing Rule aims to address recent concerns regarding investor protection and corporate governance for listed companies following various recent market manipulation and asymmetric disclosure cases by certain listed companies. The 2026 Listing Rule introduces two main focuses namely increasing share liquidity by tightening the free float definition, raising minimum free float requirements for both listing and continued listing, regulating allocation parameters for free float shares, and introducing a mandatory lock up period for certain shareholders, and enhancing corporate governance quality through new obligations for listed companies to appoint a certified accountant responsible for bookkeeping and to require their board of directors, board of commissioners, and audit committee members to undergo training in capital markets and corporate governance.
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