Share Buyback Wave: Seven Companies Poised to Deploy Trillions in Funds
Multiple listed companies are announcing share buyback programmes amid a period of weak performance in the Indonesian Composite Index (IHSG).
This strategy is being pursued by companies across various sectors, including conglomerates, banking, energy, and healthcare services.
The buyback allocations vary significantly, ranging from tens of billions to trillions of rupiah, with implementation periods beginning in March 2026 and extending up to one year ahead.
PT Astra International Tbk (ASII) is among the companies announcing a buyback, with an allocation of up to Rp2 trillion scheduled to run from 16 March to 15 June 2026.
PT Alamtri Resources Indonesia Tbk (AADI) is preparing a larger allocation of up to Rp4 trillion, with implementation commencing on 20 April 2026 and continuing for up to 12 months.
From the energy sector, PT TBS Energi Utama Tbk (TOBA) plans to conduct a share buyback with an allocation of approximately Rp448.69 billion, scheduled to run from 17 April 2026 to 17 April 2027.
PT Mulia Boga Raya Tbk (KEJU) is also planning a share buyback with a maximum value of Rp28.12 billion, representing approximately 0.90% of total issued shares. The buyback is scheduled to commence following shareholder approval at an extraordinary general meeting on 23 April 2026 and will run for 12 months.
From the banking sector, PT Bank Nationalnobu Tbk (NOBU) has commenced a buyback programme with an allocation of approximately Rp50 billion, running from 9 March to 8 June 2026.
PT Bank Negara Indonesia Tbk (BBNI) is implementing a share buyback with estimated funds of approximately Rp905.48 billion, running for one year from 9 March 2026 to 8 March 2027.
From the healthcare sector, PT Mitra Keluarga Karyasehat Tbk (MIKA) has also announced a buyback programme with an allocation of up to Rp1 trillion, commencing on 7 March 2026 and scheduled to conclude on 7 June 2026.
The concentration of buyback announcements over a relatively short timeframe reflects a commonly employed corporate strategy during periods of tepid stock market conditions.