Rukun Raharja Plans Rp 250 Billion Share Buyback After Sharp Stock Drop

JAKARTA, Investortrust.id — PT Rukun Raharja Tbk or RAJA plans a Rp 250 billion share buyback on Thursday, Jan 29, 2026 in Jakarta to stabilize its stock price after shares fell more than 27% and hit a lower trading limit, a move expected to shore up market confidence. The buyback will be funded entirely from internal cash without increasing debt.

Indonesia Stock Exchange data showed RAJA shares had dropped to Rp 4,590 after sliding more than 27% year to date in 2026. The stock closed at an auto-reject lower limit in the previous session amid heavy selling pressure.

The company said in a disclosure filed on Wednesday, Jan 28, 2026 that the buyback would run for three months from Jan 29 to April 28, 2026. Shares repurchased under the program will be recorded as treasury stock.

“Buyback funds come from internal cash, so they do not create additional debt or funding costs,” management said. “The buyback is not expected to have a material impact on operations or business performance, as current cash flows remain sufficient to support operational needs and the buyback program.”

Management said treasury shares would not carry voting rights at shareholder meetings and would not be entitled to dividends while held by the company. The policy followed prevailing capital market regulations.

The company said it expected additional catalysts from the expansion of several subsidiaries in the first quarter of 2026. RAJA plans to list one of its midstream subholding units on the stock exchange in 2026.

RAJA operates gas transportation and distribution infrastructure through pipelines and processing facilities in its midstream segment. The company has nine subsidiaries in the segment, including PT Triguna Internusa Pratama, PT Petrotech Penta Nusa, and PT Heksa Energi Mitraniaga, as well as six others held through subsidiary entities.