Indonesia sees 187 trillion rupiah in share sales for free-float aim
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Indonesia is set to raise around US$11 billion (187 trillion rupiah) in share sales to comply with new free-float regulations aimed at avoiding a downgrade to frontier market status by MSCI. The Indonesia Stock Exchange reports that 267 companies must increase public shareholdings to 15% from 7.5%. This follows MSCI's warning about investability concerns, which led to a significant market downturn. Authorities aim to address these issues by March, including stricter disclosure requirements and support from the sovereign wealth fund. No IPOs have occurred this year, with last year's listings raising US$1.1 billion.
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