Indika Energy (INDY) to Divest 7.5 Million Treasury Shares
JAKARTA — PT Indika Energy Tbk. (INDY) has announced plans to sell 7.5 million shares originally acquired during its 2020 share buyback program. This strategic move is intended to ensure compliance with the Financial Services Authority (OJK) Regulation 30/2017 regarding share repurchases by public companies.
Corporate Secretary of INDY, Adi Pramono, confirmed in a disclosure on Monday (April 27, 2026), that the company intends to release the treasury shares accumulated between July 2 and July 6, 2020. The total figure of 7.5 million shares consists of 2.3 million shares bought on July 2, 2.4 million on July 3, and 2.8 million on July 6, 2020. As of the latest disclosure, these shares have remained in the company’s possession.
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Regarding the execution of the sale, the company stated that the divestment will be conducted either through the Indonesia Stock Exchange (IDX) or via off-exchange transactions, strictly following prevailing regulations. To protect shareholder value, INDY has established a price floor: the selling price will be at least equal to either the closing price of the day prior to the transaction or the average closing price of the last 90 days, whichever is higher.
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The divestment window is scheduled to run from May 11, 2026, to July 5, 2026. Indika Energy will appoint a brokerage firm—a member of the stock exchange—to manage the transaction process. Company management has emphasized that this corporate action is a routine compliance measure and will not disrupt operational activities, financial stability, or the ongoing business sustainability of the company.
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Market performance for INDY shares remained positive following the announcement. At the close of trading on Monday (April 27, 2026), shares rose by 1.62% or 60 points, reaching a level of IDR 3,760 per share. Year-to-date, the stock, which is affiliated with businessman Agus Lasmono Sudwikatmono, has seen a significant surge of 66.37%.
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Summary
PT Indika Energy Tbk. (INDY) has announced plans to sell 7.5 million treasury shares acquired during its 2020 buyback program. This divestment aims to ensure compliance with Financial Services Authority (OJK) regulations regarding share repurchases. The shares will be sold between May 11, 2026, and July 5, 2026, either on the Indonesia Stock Exchange or through off-exchange transactions.
To protect shareholder value, the company has set a price floor based on the higher of the previous day’s closing price or the 90-day average closing price. Indika Energy has clarified that this routine corporate action will not impact its operational stability or financial performance. Following the announcement, INDY shares experienced a 1.62% increase, closing at IDR 3,760 per share.