Indonesia banks face pressure to meet 15% free float requirements

Twenty-six banking issuers in Indonesia have not yet met the minimum 15% public share ownership (free float) requirement set by the Indonesia Stock Exchange (BEI). According to data from August 31, 2026, the Financial Services Authority (OJK) is monitoring these entities as they work toward compliance deadlines.

Compliance timelines vary: ten banks are targeted to reach a 12.5% free float by March 31, 2027, while two others must reach 15% by the same date. An additional 14 banks have until March 31, 2029, to meet the 15% threshold.

Several banks currently report low free float levels, including PT Bank QNB Indonesia Tbk at 6.67%, PT Bank Nationalnobu Tbk at 7.34%, and PT Bank CIMB Niaga Tbk at 7.50%. To meet these regulatory mandates, banks are considering various corporate actions, such as rights issues, seeking strategic investors, or, in some cases, potential delisting if requirements cannot be met.