Rp 1.7 Trillion Share Buyback: Will Bank Mandiri's "Free Float" Remain Secure?

JAKARTA, KOMPAS.com - Bank Mandiri’s plan to buy back shares worth Rp 1.7 trillion is assessed as not disrupting the market structure and share liquidity on the Stock Exchange.

Investment Specialist at PT Korea Investment and Sekuritas Indonesia (KISI), Azharys Hardian, stated that Bank Mandiri’s Rp 1.7 trillion share buyback plan will not have a significant impact on the market structure.

The value is relatively small, equivalent to about 0.398% of the company’s total market capitalisation, thus not substantial enough to materially affect the balance of share demand and supply.

“Bank Mandiri’s Rp 1.7 trillion buyback plan has a minimal impact on the market structure as it only represents about 0.398% of the total market capitalisation,” Azharys said when contacted by Kompas.com on Thursday evening (9/4/2026).

“This corporate action functions more as a signal of management’s confidence in the company’s valuation rather than a significant price driver,” he explained.

Additionally, the relatively long implementation period of the buyback, up to 12 months, means the potential for share price increases tends to be limited and of a short-term psychological nature, not an aggressive technical push.

For context, Bank Mandiri shares closed weaker in Thursday’s trading. Based on IDX data, BMRI shares fell 100 points or 2.14% to 4,570. Throughout the session, the price opened higher around 4,670 but immediately faced sharp pressure at the start of trading before moving sideways in a narrow range.