Duck King Operator Delays Share Buyback Amid Plans to Go Private
The restaurant issuer, PT Jaya Bersama Indo Tbk (DUCK), has provided an update regarding the ongoing process of cancelling its listing on the Indonesia Stock Exchange (IDX) and transitioning from a public company to a private one (Go Private).
Citing information disclosure from the IDX, DUCK’s management expressed apologies for the failure to meet the obligation for the company’s share buyback plan within the specified period, which was due no later than 10 May 2026, and for the fact that the buyback execution has not yet commenced.
“The Company fully understands that this obligation must be fulfilled within the timeframe established by the IDX,” management wrote on Wednesday (1/7/2026).
Management stated that the company is currently facing several obstacles affecting its ability to execute the buyback, resulting in the failure to meet the original schedule. In relation to this, the company is currently working towards an internal resolution.
“The obstacles currently experienced by the Company ensure that all stages of the buyback execution and the change in the Company’s status from a public company to a private company (Go Private) will be carried out in accordance with the prevailing laws and regulations,” it explained.
Furthermore, management stated that during the buyback and Go Private process, the company is currently conducting intensive consultations with management and the supporting professionals involved in the process.
The objective is to formulate the necessary steps and timelines, as well as to ensure the readiness of the buyback execution in compliance with applicable legal regulations.
The company remains committed to fulfilling all obligations regarding the cancellation of its listing on the IDX and the Go Private process.
“The Company hopes for guidance and support from the OJK (Financial Services Authority) regarding the planned buyback and Go Private process, so that its implementation can be conducted in an orderly manner, in accordance with regulations, and provide legal certainty for all related parties,” it concluded.