NCKL plans Rp1 trillion share buyback as shares deemed undervalued

JAKARTA - PT Trimegah Bangun Persada Tbk (NCKL), an integrated nickel producer under Harita Nickel, is preparing a share buyback of up to Rp1 trillion as management believes the company’s share price does not reflect its true value.

Management stated the corporate action will seek approval at the Annual General Meeting (AGM) on 30 June 2026, with the buyback lasting up to 12 months after shareholder approval.

“The company believes the current share price does not reflect the company’s true value, despite its fairly good performance,” management said in a disclosure.

NCKL also confirmed the new buyback period will not overlap with the previous Rp1 trillion buyback programme approved at the 2025 AGM.

“The new share buyback period, starting from the AGM approval date on 30 June 2026, will not overlap with the 2025 buyback period, which ended on 18 June 2026,” management said.

Funds will be sourced entirely from internal cash reserves, not from public offerings or loans.

Management stated the move will not disrupt operations as working capital remains sufficient.

“The company does not anticipate significant changes in net profit or earnings per share from the share buyback,” management added.

The company’s revenue rose 18.12% to Rp7.12 trillion, with nickel processing contributing Rp5.96 trillion, or 83.71% of total revenue.