JAKARTA — PT Mulia Boga Raya Tbk (KEJU) plans to repurchase shares listed on the Indonesia Stock Exchange, allocating around IDR 28.12 billion for the buyback programme.

Jeffry Halim, Corporate Secretary of KEJU, said in a written statement on Friday (13/3) that the company targets buying back around 50,675,676 shares, equivalent to about 0.90% of total issued shares.

“The share buyback is intended to provide the company with flexibility and a mechanism to help maintain share price stability if the market price does not reflect the company’s value or performance,” Jeffry said.

The buyback price will follow the provisions under POJK No. 29 of 2020. Based on the allocated budget and target volume, the implied buyback price is estimated at around IDR 555 per share.

Jeffry also emphasised that all funds for the buyback will come from the company’s internal cash, rather than from public offerings, loans, or any form of debt.

“This move will not have a significant impact on the company’s financial capacity to meet its obligations,” KEJU’s management said.

For the execution of the programme, the company has appointed PT Indo Premier Sekuritas as the broker to facilitate the transactions.

Jeffry added that the buyback will be carried out gradually over a maximum period of 12 months, after obtaining approval from an Extraordinary General Meeting of Shareholders (EGMS).

The EGMS is scheduled to take place on 21 April 2026.

As of 10:30 AM WIB on Friday (13/3), KEJU shares rose slightly by 0.95% to IDR 530. However, over the past five days the stock has fallen 9.40%, and since the start of 2026 it has dropped 19.70%. (DK/ZH)