Requirements To Be Registered on the Indonesia Stock Exchange

The Indonesia Stock Exchange (IDX) has 2 (two) boards, namely the Development Board and Main Board. Development Board is a recording board that is provided to record shares of medium-sized companies that are expected to develop, while the Main Board is a recording board that is provided to record shares of large companies and have operational experience.

The requirements for being registered in the development board and the main board are as follows (Exchange Regulation No. I-A):

  1. A Limited Liability Company
  2. Having an Independent Commissioner of at least 30% of the Board of Commissioners
  3. Having an Independent Director of at least 1 (one) person from the Board of Directors
  4. Having an Audit Committee
  5. Having an Internal Audit Unit
  6. Having a Corporate Secretary

There are special conditions to be recorded on the main board, namely:

  1. Operations on the same core business at least 36 months
  2. Record operating profit for the last 1 financial year
  3. Audited financial statements of at least 3 years
  4. Opinion of Unqualified Financial Reports (last 2 years)
  5. Net tangible assets of at least Rp 100,000,000,000 (one hundred billion)
  6. The number of shares held is not a controlling & not a major shareholder of at least 300 million shares and is equal to:
    • 20% of the total shares, for equity less than Rp500,000,000,000 (five hundred billion rupiahs)
    • 15% of the total shares, for equity of IDR 500,000,000,000 (five hundred billion rupiah) up to IDR 2,000,000,000,000 (two trillion rupiahs)
    • 10% of the total shares, for equity of more than Rp.2,000,000,000,000 (two trillion rupiahs)
  1. The minimum number of Shareholders is 1000 (one thousand) parties

Certain requirements to be registered on the development board, namely:

  1. Operations on the same core business for at least 12 months
  2. It is permissible not to have a profit, but the second year projection since it is recorded must have an operating profit and net profit
  3. Audited financial statements of at least 12 months
  4. Opinion of Unqualified Financial Reports
  5. Minimum tangible assets of at least Rp.5,000,000,000 (five billion)
  6. The number of shares held is not a controlling & not a major shareholder of at least 150 million shares and is equal to:
    • 20% of the total shares, for equity less than Rp500,000,000,000 (five hundred billion rupiahs)
    • 15% of the total shares, for equity of IDR 500,000,000,000 (five hundred billion rupiah) up to IDR 2,000,000,000,000 (two trillion rupiahs)
    • 10% of the total shares, for equity of more than Rp.2,000,000,000,000 (two trillion rupiahs)

      7. The minimum number of shareholders is 500 (five hundred) parties

how can we help you?

Contact us or submit a business inquiry online.