Indonesia is racing to avert a downgrade to frontier market status by MSCI Inc. that could trigger foreign outflows. To address concerns about ownership transparency, the stock exchange has proposed tighter rules to require 15% free float within three years. Barito Renewables, along with the Widjaja family’s PT Dian Swastatika Sentosa was among nine firms the regulator singled out for concentrated ownership of more than 95%, spurring selloffs.