The Indonesia Stock Exchange (IDX) plans to revise the criteria for stocks included in the LQ45 index. At least three new factors will be introduced as considerations in determining the index constituents.

The adjustment involves adding three key aspects, namely the minimum free float requirement, the number of active trading days, and provisions related to stocks classified under High Shareholding Concentration (HSC). Aside from these additions, the existing selection criteria for LQ45 constituents remain unchanged.

Out of the 45 stocks currently listed in the LQ45 index, two issuers fall under the HSC category, namely PT Barito Renewables Energy Tbk (BREN) and PT Dian Swastatika Sentosa Tbk (DSSA). The presence of stocks with highly concentrated ownership has become one of the focal points in future index evaluations.

Meanwhile, in terms of free float requirements, all companies in the LQ45 index have already met the minimum threshold of 10%. However, there are five issuers that could face pressure if the minimum free float requirement is increased to 15%.

According to the official announcement, the IDX80 universe must meet a minimum free float ratio of 10% or comply with the latest provisions under IDX Regulation Number I-A and Circular Letter Number SE-00004/BEI/03-2026, whichever is higher.

Referring to the LQ45 constituent data as of January 30, 2026, five issuers have free float levels below 15%, including PT Barito Renewables Energy Tbk (BREN) with 11.63% and PT Pertamina Geothermal Energy Tbk (PGEO) at 10.24%.

In addition, PT Alamtri Minerals Indonesia Tbk (ADMR) has a free float of 12.53%, PT Trimegah Bangun Persada Tbk (NCKL) at 14.35%, and PT Unilever Indonesia Tbk (UNVR) at 14.49%.

Nevertheless, these adjustments will only take effect starting May 4, 2026. Therefore, issuers still have the opportunity to modify their composition or increase their free float before the new rules are fully implemented.