PT Bursa Efek Indonesia and PT Kustodian Sentral Efek Indonesia announced on November 11, 2026, that 383 listed companies now fall into the High Shareholding Concentration category.
The total jumped from 83 to 383 after regulators removed the market capitalization threshold and dropped the Price Impact Ratio criteria. The new methodology captures every listed company where ten or fewer shareholders control at least 92.5% of the total shares.
This expansion brings newly added stocks that contribute 6.16% to the total market capitalization of the Jakarta Composite Index. Regulators set the evaluation date for ownership structures as of October 30, 2026, according to official announcements numbered Peng-HSC-00088/BEI.WAS/11-2026 and Peng-00032/PWS/KSEI/1126, EmitenNews.com reported.
Constituent adjustments for the Jakarta Composite Index take effect on Friday, November 13, 2026, which is the second exchange day following the announcement. Stocks on the concentration list are excluded from major exchange indices including the Jakarta Composite Index, LQ45, and IDX80, IDNFinancials reported.
New companies join the LQ45 index
The Indonesia Stock Exchange added PT Gudang Garam Tbk, PT Erajaya Swasembada Tbk, and PT Pakuwon Jati Tbk to the LQ45 index as replacements for companies that landed on the concentration list. PT Mitra Adiperkasa Tbk, PT Trimegah Bangun Persada Tbk, and PT Pertamina Geothermal Energy Tbk left the index.
Pande Made Kusuma Ari A., Head of Trading Operation and Regulation Division at the exchange, said that Gudang Garam enters the LQ45 index with an index weight of 0.41%. Pakuwon Jati obtained a weight of 0.32% and Erajaya Swasembada received 0.25%, Ari A. told IDNFinancials.
Four new stocks entered the IDX80 index: PT Central Omega Resources Tbk, PT Impack Pratama Industri Tbk, PT PAM Mineral Tbk, and PT RMK Energy Tbk. These four companies replace Mitra Adiperkasa, Trimegah Bangun Persada, Pertamina Geothermal Energy, and PT Pabrik Kertas Tjiwi Kimia Tbk.
Impack Pratama Industri secured the highest weight among newcomers at 0.7%, followed by RMK Energy at 0.23%, Central Omega Resources at 0.1%, and PAM Mineral at 0.06%. These index changes remain effective from November 18, 2026, through January 29, 2027.
Sector Distribution of Concentrated Stocks
Consumer non-cyclicals account for 52 companies, while consumer cyclicals include 38 firms and financial institutions total 39 companies, Bareksa.com reported.
Basic materials cover 38 companies, properties and real estate hold 31 firms, and the industrial sector contributes 25 companies. Infrastructure includes 20 firms, energy covers 19 companies, healthcare accounts for 14, transportation and logistics counts 12, and technology features 8 companies.
Prominent financial and consumer names appearing in the expanded concentration list include Bank Danamon Indonesia Tbk and H.M. Sampoerna Tbk. The exchange stressed that entering this category does not automatically imply any violation of capital market laws or regulations.
Questions about the High Shareholding Concentration list changes
Why did the exchange expand the High Shareholding Concentration list?
Bursa Efek Indonesia dropped the five trillion rupiah market capitalization threshold and eliminated the Price Impact Ratio criteria to capture all listed companies where ten or fewer shareholders control 92.5% or more of total shares, improving transparency and investor protection.
When do the index changes take effect for investors?
Adjustments to the Jakarta Composite Index take effect on Friday, November 13, 2026. Changes to the LQ45 and IDX80 index constituents apply from November 18, 2026, through January 29, 2027.
Do concentrated stocks face regulatory penalties?
The exchange said that inclusion in the concentration list does not automatically signal any violation of capital market rules or statutory regulations.
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