Major Listed Companies Conduct Share Buybacks Amid Market Volatility: What Are the Prospects?
Jakarta — Multiple listed companies on the Indonesia Stock Exchange (IDX) are beginning to execute corporate actions in the form of share buybacks. This development emerges as the stock market faces fragile and volatile conditions.
PT Astra International Tbk (ASII) is one of the companies announcing a buyback plan. The company is allocating funds up to Rp 2 trillion for this action. The number of shares repurchased will not exceed 20 per cent of paid-up capital. The buyback period runs from 16 March to 15 June 2026.
A similar initiative is being prepared by PT Alamtri Resources Indonesia Tbk (AADI). The company is allocating Rp 4 trillion for the share buyback, estimated to commence on 20 April 2026 and continue for 12 months thereafter.
PT Toba Tbk’s (TOBA) share buyback programme is scheduled to run from 17 April 2026 to 17 April 2027.
PT Mulia Boga Raya Tbk (KEJU) is also preparing a similar action. The company is allocating funds up to Rp 28.12 billion. The number of shares to be repurchased is estimated at approximately 0.90 per cent, or 50.76 million shares, from the total issued shares. This action will run for 12 months after obtaining approval through an Extraordinary General Meeting of Shareholders on 23 April 2026.
PT Bank Nationalnobu Tbk (NOBU) is also executing a share buyback valued at Rp 50 billion. The action commenced on 9 March and is scheduled to conclude on 8 June 2026.
PT Bank Negara Indonesia Tbk (BBNI) is preparing a share buyback with an estimated allocation of Rp 905.48 billion. The buyback period runs from 9 March 2026 to 8 March 2027.
PT Mitra Keluarga Karyasehat Tbk (MIKA) is executing a share buyback with a fund allocation of Rp 1 trillion. The programme runs from 7 March to 7 June 2026.
These actions persist despite share prices of numerous companies being pressured by negative market sentiment.
Share buybacks are also regarded as transmitting a positive signal to market participants. The action demonstrates corporate confidence in share valuations and cash flow conditions. Share buybacks represent an opportunity for companies to repurchase their shares when prices are depressed, providing a mechanism to enhance shareholder value during periods of market weakness.