JAKARTA — Stocks newly promoted to the Main Board of the Indonesia Stock Exchange (IDX) displayed a bullish performance during early trading on Friday, May 29, 2026. Data from the exchange as of 09:20 WIB showed that several companies making the transition from the Development Board recorded varied price gains.
Leading the surge was PT Chandra Asri Pacific Tbk. (TPIA), a petrochemical giant affiliated with conglomerate Prajogo Pangestu. The stock climbed 12.63% to reach Rp2,140 per share. This momentum reflects investor optimism surrounding these newly upgraded issuers.
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The positive trend extended to other sectors as well. Consumer goods company PT Akasha Wira International Tbk. (ADES) posted a 3.79% increase to Rp21,900 per share. Similarly, PT Gozco Plantations Tbk. (GZCO) saw an 8.11% gain to Rp160, while PT Bank Amar Indonesia Tbk. (AMAR) rose by 1.53% to hit Rp199 per share.
Related: Stock Recommendations and JCI Movements Today, Friday, May 29, 2026
Other companies also experienced modest gains: PT Galva Technologies Tbk. (GLVA) rose 1.16% to Rp248, PT DFI Retail Nusantara Tbk. (HERO) edged up 1.02% to Rp396, and PT Lippo Cikarang Tbk. (LPCK) lifted by 0.97% to Rp520. Furthermore, PT Alkindo Naratama Tbk. (ALDO) saw an appreciation of 0.73% to Rp690, and PT Baramulti Suksessarana Tbk. (BSSR) moved up 0.25% to Rp3,970.
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In contrast, PT Central Omega Resources Tbk. (DKFT) moved against the trend, experiencing a slight correction of 0.70% to trade at Rp705 per share.
The promotion of these 26 issuers follows a periodic evaluation by the stock exchange authority concluded in May 2026. This reclassification is based on rigorous assessments of financial performance, asset scale, liquidity, and corporate governance standards. These new assignments on the exchange became effective today.
The Main Board imposes significantly higher standards for operational, financial, and liquidity stability compared to the Development Board. Specifically, companies seeking to remain on the Main Board must demonstrate at least 36 months of business operations or revenue generation, proof of profitability in the most recent fiscal year, and net tangible assets of at least Rp100 billion.
Additionally, these issuers must provide audited financial reports for at least three years, with an Unqualified Opinion for the last two, and maintain a shareholder base of at least 1,000 parties with a minimum of 300 million shares in public circulation.
In contrast, the Development Board offers more accessible entry, requiring only 12 months of operations and allowing companies to report losses, provided they have clear profitability projections. Financial requirements are also less stringent, needing net tangible assets of at least Rp5 billion, or a profit of Rp1 billion with a market capitalization of Rp100 billion, or revenue of Rp40 billion with a market capitalization of Rp200 billion. Furthermore, the shareholder requirement is lower, needing at least 500 parties and a minimum offering of 150 million shares.
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Summary
Stocks newly promoted to the Indonesia Stock Exchange (IDX) Main Board experienced a broad rally during early trading on May 29, 2026. PT Chandra Asri Pacific Tbk. (TPIA) led the surge with a 12.63% increase, followed by notable gains from PT Akasha Wira International Tbk. (ADES) and PT Gozco Plantations Tbk. (GZCO). While most promoted companies saw positive performance, PT Central Omega Resources Tbk. (DKFT) experienced a slight decline.
The reclassification of 26 issuers followed a rigorous periodic evaluation by the IDX based on financial performance, liquidity, and governance standards. Moving to the Main Board requires companies to meet stricter criteria, including 36 months of operation, verified profitability, and higher net tangible asset thresholds compared to the more accessible Development Board. These new assignments became effective immediately, reflecting higher investor confidence in the promoted firms.
