Four Prajogo Pangestu-linked firms spend Rp830.7 billion on buybacks
The Indonesian listed companies have allocated up to Rp4.5 trillion for their share repurchase programmes.
Four Indonesian listed companies affiliated with Prajogo Pangestu had spent Rp830.7 billion buying back shares by early November 2026, according to a statement cited by CNBC Indonesia on 3 November.
PT Chandra Asri Pacific Tbk. (TPIA) accounted for the largest amount spent. The companies reported the following purchases, with different reporting cut-off dates:
- TPIA bought 378.43 million shares for Rp518.2 billion through 2 November 2026.
- PT Barito Renewables Energy Tbk. (BREN) repurchased 49.14 million shares for about Rp98 billion through 1 November 2026.
- PT Barito Pacific Tbk. (BRPT) bought 99.10 million shares for Rp121 billion through 30 October 2026.
- PT Petrindo Jaya Kreasi Tbk. (CUAN) repurchased 190.45 million shares for Rp93.5 billion through 28 October 2026.
The maximum funding earmarked for the programmes totals Rp4.5 trillion. TPIA has set aside up to Rp2 trillion, while BRPT and BREN have each allocated up to Rp1 trillion. CUAN’s ceiling is Rp500 billion.
TPIA’s programme is due to continue until 28 January 2027. The other three companies are scheduled to end their repurchases on 31 December 2026.
BRPT’s management said in a disclosure that it did not expect the buybacks to materially harm operations or revenue, and considered its working capital and cash flow sufficient to fund them. TPIA’s management said its purchases would be funded from company cash.
