Shares of PT Bayan Resources Tbk (BYAN) underwent another correction\nduring trading today, Thursday (10\/09\/2026).<\/p>\n
As of 11:00 WIB, BYAN shares fell 3.45% to the 13,300 level. A few\nminutes later, the decline was narrowed to 2.37% at the 13,450 level,\nhaving briefly touched a daily high of 13,650. The company\u2019s market\ncapitalisation was recorded at Rp 446.7 trillion.<\/p>\n
Previously, BYAN shares had surged to the 17,275 level, representing\na 43.96% increase within four trading days. This means that over the\nlast 1s5 trading days, BYAN shares have plummeted by 23.01%.<\/p>\n
When BYAN touched the 17,000 range, rumours circulated that 62.2% of\nthe shares held by Low Tuck Kwong\u2019s company would be acquired by Andi\nSyamsuddin Arsyad, also known as Haji Isam.<\/p>\n
As an illustration, shareholding reports for BYAN as of 31 August\n2026 show that Dato\u2019 Low Tuck Kwong controls 40.251% of shares, while\nhis daughter, Elaine Low, holds 22.002%. Combined, their ownership\nreaches approximately 62.253%, which is very close to the 62.2% figure\nmentioned in the rumours.<\/p>\n
Based on company data, the total number of BYAN shares stands at\n33,333,350,000. If 62.2% of these shares were calculated using BYAN\u2019s\nclosing price on 18 August 2026 of Rp 17,275 per share, the required\npurchase would involve approximately 20.73 billion shares.<\/p>\n
Mathematically, the value of such a purchase would reach\napproximately Rp 358.17 trillion, or roughly US$20.43 billion.<\/p>\n
In recent developments, market rumours have suggested that Haji Isam\nhas submitted an offer to acquire BYAN at a price far below its current\nmarket value. If Low Tuck Kwong were to accept Haji Isam\u2019s offer, the\nacquisition price would represent a discount of more than 80% from the\nBYAN share price on 18 August 2026.<\/p>\n
Previously, in a disclosure to the Indonesia Stock Exchange (IDX)\ndated 18 August 2026, BYAN Corporate Secretary Jenny Quantero clarified\nthat the Company is currently unaware of any plans for a takeover and\/or\nacquisition of the Company\u2019s shares as suggested by the circulating\ninformation.<\/p>\n
\u201cHowever, the Company\u2019s controlling shareholders have informed us\nthat from time to time, as investors, they may consider various\nopportunities and prospects to maximise their investments in the\nCompany,\u201d Jenny stated, as quoted from the IDX disclosure.<\/p>\n
Separately, PT Jhonlin Agro Raya Tbk (JARR), an entity affiliated\nwith Haji Isam, has addressed the reports regarding the Kalimantan-based\nbusinessman\u2019s plan to take over BYAN.<\/p>\n
In its response to the Exchange, JARR stated that it has no plans to\nacquire BYAN shares. This clarification applies to the company group up\nto the date of the clarification letter.<\/p>\n
The company also provided an explanation regarding potential\nacquisition plans by controlling shareholders or ultimate beneficial\nowners. To date, JARR stated that it has not received any official\nconfirmation or notification regarding any plans or material facts\nconcerning the acquisition of BYAN shares.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/byan-shares-have-plunged-23-what-is-happening-1789019945", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }