CBDK to Buy Back Shares, Prepares Rp 250 Billion
PT Bangun Kosambi Sukses Tbk. (CBDK) will carry out a share buyback worth Rp 250 billion. The move is not being made due to a decline in performance or weakening fundamentals of the company, but rather because the share price has recorded a decline of up to 57% as of 19 August 2026.
The share decline is in line with the movement of the Jakarta Composite Index (IHSG) on a year-to-date (YTD) basis, which has recorded a decline of around 26%.
According to management, these conditions mean the share price is considered not to fully reflect the company’s fundamentals and intrinsic value. Therefore, the buyback is expected to help reduce selling pressure in the market when the index and share prices experience volatility, while also signalling to investors that management sees value in the company’s current share price.
“The share buyback is a step by the company in responding to fluctuating capital market conditions, particularly the movement of the IHSG which is influenced by external factors and market sentiment,” management wrote in an information disclosure to the Indonesia Stock Exchange (IDX) on Thursday (20/8/2026).
The company also considers that the buyback can help maintain a balance between the company’s fundamentals and market conditions. In addition, the action provides flexibility in managing the capital structure in the long term.
Shares resulting from the buyback may become treasury shares that could potentially be used or resold in the future at an optimal value if the company requires additional capital.
Meanwhile, from a financial perspective, management emphasised that this corporate action will not have a material negative impact on the company’s operational activities or financial condition. The company considers that it has adequate capital, sufficient cash balances, and healthy cash flow to finance the buyback transaction alongside its business activities.
Based on data as of June 2026 submitted in the information disclosure, comprehensive income attributable to owners of the parent entity was recorded at Rp 1.68 trillion. This figure remains unchanged in the proforma after the buyback, staying at Rp 1.68 trillion.
Meanwhile, the company’s total assets before the buyback were recorded at Rp 22.221 trillion. After taking into account the use of a maximum of Rp 250 billion for the buyback, total assets on a proforma basis are estimated to decline to around Rp 21.97 trillion.
Total equity is also projected to decline from Rp 13.470 trillion to around Rp 13.220 trillion after the buyback is carried out.
These changes mainly reflect the use of the company’s internal cash to finance the share buyback. Although assets and equity decline due to the use of cash, the company’s earnings per share (EPS) is actually projected to increase. Based on the financial report as of 30 June 2026, EPS before the buyback was recorded at Rp 297.34 per share.
After the buyback is carried out, EPS on a proforma basis is estimated to increase to Rp 300.95 per share, or an increase of Rp 3.61 per share.
In terms of return on capital, last twelve months return on equity (LTM-ROE) is also projected to increase. Before the buyback, ROE was recorded at 18.8%, while after the buyback it is estimated to be 19.1% on a proforma basis.
The company emphasised that the source of buyback funds comes from optimising internal cash. The funds do not come from the proceeds of an initial public offering (IPO) nor from loans or debt in any form. The company stated that the source of funding will not have a significant impact on the company’s ability to meet its maturing obligations.
“The company’s share buyback will be carried out at a price deemed good and fair by the company, taking into account applicable regulations,” it concluded.