- In an effort to improve investor protection and promote orderly, fair and efficient trading, the Board of Directors of PT Bursa Efek Indonesia has issued Decree No. Kep-00058/BEI/07-2021 on Rule II-S on the Trading of Equity Securities under Special Monitoring ("Rule II-S").
- PT Bursa Efek Indonesia ("IDX") will now determine equity securities as being under special monitoring if a listed company or the equity securities of a listed company meet one or more of the following conditions: 1) The average share price over the last six months within the regular market is less than Rp. 51.00; 2) The most recent audited financial report received a disclaimer (tidak menyatakan pendapat) opinion; 3) Has no recorded income or no change in income has been recorded in the most recent audited financial statement and/or interim financial statement when compared with previously submitted financial statements; 4) Listed companies that: a) Engage in mineral and coal-mining sector businesses that have reached the production operation stage but that have not yet reached either the sales stage or the production operation stage; or b) Comprise holding companies that possess controlled companies that engage in mineral and coal-mining sector businesses that have reached that the production operation stage but have not yet reached either the sales stage or the production operation stage by the end of the fourth financial year after being originally listed on the IDX and that have not received any income from core business activities; 5) Have posted negative equity in their most recent financial statements; 6) Do not meet the requirements to be able to remain listed on the IDX as stipulated under: a) Decree of the Board of Directors of the IDX No. KEP-00183/BEI/12-2018 on the Amendment to Rule I-A on the Listing of Shares and Equity Securities Other Than Shares Issued by Listed Companies, for listed companies whose shares are listed on either the main board or the development board; and b) Decree of the Board of Directors of the IDX No. KEP-00059/BEI/07-2019 on Rule I-V on Special Provisions for the Listing of Shares and Equity Securities Other Than Shares Issued by Listed Companies on the Acceleration Board, for listed companies whose shares are listed on the acceleration board; 7) Have low levels of liquidity in line with the following criteria: daily average share transaction value of less than Rp. 5 million and an average daily volume of share transactions that amount to fewer than 10,000 shares during the last six months within the regular market; 8) Have requested the suspension of their debt payment obligations (Penundaan Kewajiban Pembayaran Utang – "PKPU") or have filed for bankruptcy; 9) Have subsidiaries for which the relevant income contribution is material for the listed company and a subsidiary has requested a PKPU or has filed for bankruptcy; 10) Are subject to a temporary suspension of securities trading for more than one trading day as a result of trading activities; and/or 11) Other conditions, as determined by the IDX after approvals or orders have been obtained from the Financial Services Authority (Otoritas Jasa Keuangan/OJK).
- The Jakarta Automated Trading System ("JATS") will perform an auto-rejection if the price of an offer to sell or buy shares entered into the JATS is more than 10% above or below the relevant reference price.
- Rule II-S has been in force since 16 July 2021.
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