{"url_path":"/sec/tlk/10-k/2026/item-9","section_key":"item-9","section_title":"Item 9 THE OFFER AND LISTING**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1001807/0001104659-26-062051-index.html","accession_number":"0001104659-26-062051","cik":"0001001807","ticker":"TLK","issuer_name":"PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK","edgar_url":"https://www.sec.gov/Archives/edgar/data/1001807/0001104659-26-062051-index.html","primary_entity_key":"0001001807","primary_entity_name":"PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK"},"word_count":1134,"has_tables":true,"body_markdown":"**ITEM 9.               THE OFFER AND LISTING**\n\n**A.                         OFFER AND LISTING DETAILS**\n\nOur common stock is listed and traded on the IDX under the symbol “TLKM.” Our ADSs are listed and traded on the NYSE under the symbol “TLK” with one ADS representing 100 shares of common stock.\n\nOur Articles of Association do not contain any limitations on the right of any person to own our Series B Shares or to exercise their right to vote. Indonesian capital market regulations do not contain any limitation on the right of any person, whether Indonesian or foreign, to own shares in a company listed on the IDX.\n\n**B.                         PLAN OF DISTRIBUTION**\n\nNot applicable.\n\n**C.**                         **MARKETS**\n\nOur common stock is listed and traded on the IDX. Our ADSs are listed and traded on the NYSE with one ADS representing 100 shares of common stock. See Exhibit 2.1 to this Form 20-F for a description of our ADSs.\n\n**The Indonesian Stock Market**\n\nThe Indonesia Stock Exchange (the “**IDX**”) emerged out of the December 1, 2007 merger of two stock exchanges operating in two different locations in Indonesia, namely the Jakarta Stock Exchange which was located in Jakarta, the capital city of Indonesia, and the Surabaya Stock Exchange which was located in Surabaya in East Java.\n\nAs of December 31, 2025, the IDX had 956 issuers for equity and 92 brokerage houses. In 2025, IDX recorded a trading volume of around 7,150 billion shares. As of December 31, 2025, the total market capitalization was valued at approximately Rp15,849 trillion (approximately US$944 billion).\n\n170\n\n[Table of Contents](#TOC)\n\nTrading is divided into three segments: the regular market, negotiated market and cash market (except for rights issues, which can only be traded on the cash market and the negotiated market for the first session). The regular market is the mechanism for trading stock in standard lots on a continuous auction basis during exchange hours. Auctions on the IDX on regular market and cash market take place according to the price and time priorities. Price priority refers to giving priority to buying orders at a higher price or selling orders at a lower price. If buy or sell orders are placed at the same price, priority is given to the earlier placed buy or sell order (time priority). Trading on the negotiated market is conducted through direct negotiation between (i) IDX members, (ii) clients through one IDX member, (iii) a client and an IDX member, or (iv) an IDX member and the PT Kliring Penjaminan Efek Indonesia (“**KPEI**”). KPEI provides clearing and guarantee services of stock exchange transactions settlement. It also improves efficiency and certainty of transactions settlement on the IDX.\n\nIDX Rule No. II A on Trading of Equity Securities as attached to the Decree of the Board of Directors of the IDX No. Kep-00055/BEI/03-2023 (“**IDX Trading Rule**”) provides that as of April 3, 2023, the trading sessions of the IDX are as follows:\n\n**Trading Session**\n\n  ​ ​ ​\n\n**Market**\n\n  ​ ​ ​\n\n**Day**\n\n  ​ ​ ​\n\n**Trading Hours**\n\nPre-opening\n\n​\n\nRegular\n\n​\n\nMonday-Friday\n\n​\n\n08.45.00-08.59.59\n\n1st\n\n​\n\nRegular\n\n​\n\nMonday-Thursday\n\n​\n\n09.00.00-12.00.00\n\n​\n\n​\n\n​\n\n​\n\nFriday\n\n​\n\n09.00.00-11.30.00\n\n​\n\n​\n\nCash\n\n​\n\nMonday-Thursday\n\n​\n\n09.00.00-12.00.00\n\n​\n\n​\n\n​\n\n​\n\nFriday\n\n​\n\n09.00.00-11.30.00\n\n​\n\n​\n\nNegotiated\n\n​\n\nMonday-Thursday\n\n​\n\n09.00.00-12.00.00\n\n​\n\n​\n\n​\n\n​\n\nFriday\n\n​\n\n09.00.00-11.30.00\n\n2nd\n\n​\n\nRegular\n\n​\n\nMonday-Thursday\n\n​\n\n13.30.00-15.49.59\n\n​\n\n​\n\n​\n\n​\n\nFriday\n\n​\n\n14.00.00-15.49.59\n\n​\n\n​\n\nNegotiated\n\n​\n\nMonday-Thursday\n\n​\n\n13.30.00-16.30.00\n\n​\n\n​\n\n​\n\n​\n\nFriday\n\n​\n\n14.00.00-16.30.00\n\nPre-closing\n\n​\n\nRegular\n\n​\n\nMonday-Friday\n\n​\n\n15.50.00-16.00.59\n\nPost Trading\n\n​\n\nRegular\n\n​\n\nMonday-Friday\n\n​\n\n16.01.00-16.15.00\n\n​\n\nThe IDX Trading Rule, changed the group price, tick price and maximum share price movement to the following:\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Group Price**\n\n​\n\n**Tick Price**\n\n​\n\n**Maximum Share Price Movement**\n\n<Rp200\n\n \n\nRp1\n\n \n\nRp10\n\nRp200-<Rp500\n\n \n\nRp2\n\n \n\nRp20\n\nRp500-<Rp2,000\n\n \n\nRp5\n\n \n\nRp50\n\nRp2,000-<Rp5,000\n\n \n\nRp10\n\n \n\nRp100\n\n≥Rp5,000\n\n \n\nRp25\n\n \n\nRp250\n\nTransactions on the IDX regular market must be settled no later than the second trading day (T+2) after the transaction. Transactions on the negotiated market are settled on the basis of the agreement between the selling exchange members and the buying exchange members, on a transaction-by-transaction basis. Transactions on the IDX cash market must be settled on the day of the transaction (T+0) and reported to the IDX. If an exchange member defaults on the settlement of a transaction, the securities can be traded by direct negotiation on cash and carry terms. Each exchange member is required to pay a transaction fee as stipulated by the IDX. Any delay in payment of the transaction fee is subject to a fine of 1.0% of the outstanding amount of the payment for each day of delay. The IDX may impose sanctions on its members for any violation of exchange rules, which may include fines, written warnings, suspension or revocation of licenses.\n\nWhen conducting share transactions on the IDX, each exchange member is required to pay a transaction cost for transactions on the regular market and cash market of 0.018% of the transaction value and VAT and other tax obligation. For the negotiated market, a transaction cost as stipulated by the IDX is applicable. A minimum monthly transaction fee of Rp20 million is applied as a contribution for the provision of exchange facilities and continues in effect for members who are suspended or whose Exchange Member Approval is revoked.\n\n171\n\n[Table of Contents](#TOC)\n\nSince the global financial crisis in the last quarter of 2008, share price movement has been typical. Hence, the IDX has applied a policy of auto rejection, a mechanism whereby share trading can be halted automatically to maintain orderly, fair and efficient trading.\n\nThe IDX Trading Rule also stipulates the change of the auto-rejection policy. This policy has changed from time to time, specifically since the Government began relaxing COVID-19-related restrictions on trading activities. Based on the newly issued IDX Trading Rule, the Jakarta Automated Trading System (“**JATS**”) will automatically reject price orders input into the JATS at the Regular and Cash Markets if:\n\n●the buy or sell order is smaller than Rp50 (or Rp1 for rights and warrants);\n\n●more than 35% above or below the reference price for stock prices ranging from Rp50 to Rp200;\n\n●more than 25% above or below the reference price for stock price ranging from more than Rp200 to Rp5,000; or\n\n●more than 20% above or below the reference price for stock price that is more than Rp5,000.\n\nMoreover, auto-rejection is triggered when a trade involves more than 50,000 lots of equity securities or exceeds 5% of listed securities, using the lesser amount, and the auto-rejection threshold for post-IPO trading is set at double that percentage.\n\n**Trading on the NYSE**\n\nSee also “*Item 12. Description of Securities Other Than Equity Securities*.”\n\n**D.**                         **SELLING STOCKHOLDERS**\n\nNot applicable.\n\n**E.**                         **DILUTION**\n\nNot applicable.\n\n**F.**                         **EXPENSES OF THE ISSUE**\n\nNot applicable.\n\n​"}