Djarum Group Issuer Plans Buyback, TOWR Prepares IDR 500 Billion

Telecommunications issuer PT Sarana Menara Nusantara Tbk (TOWR) plans to repurchase shares up to a maximum of IDR 500 billion. This amount is equivalent to the purchase of approximately 1,183,151,916 shares, or about 2% of the company’s issued and paid-up capital.

Citing information disclosure from the Indonesia Stock Exchange (IDX), this corporate action is being undertaken during a period of significant market volatility. The buyback implementation will take place over three months, from 30 September 2026 to 30 December 2026.

“The company may terminate the Share Repurchase period before the deadline specified above if the cost of repurchasing shares and/or the target nominal value of all shares to be repurchased has been achieved, or for other reasons,” management stated on Wednesday (30/9/2026).

The purchase will be conducted through PT BCA Sekuritas, which has been appointed as the intermediary during the buyback period.

Management emphasised that this plan will not have a material impact on the company’s revenue, business activities, or financial performance.

The buyback will utilise internal funds, taking into account the company’s financial condition, working capital requirements, and sufficient funding sources. The move is expected to maintain share price stability and provide the flexibility to achieve a more efficient capital structure.

Based on the company’s proforma position as of 30 June 2026, assets decreased from IDR 81.842 trillion to IDR 81.342 trillion, and equity decreased from IDR 29.088 trillion to IDR 28.588 trillion, a reduction of IDR 500 billion each. Net profit attributable to the owners of the parent entity remains unchanged at IDR 1.857 trillion. As the number of outstanding shares decreases, earnings per share (EPS) rose by IDR 0.66, from IDR 31.91 to IDR 32.57.