OJK Permits 21 Issuers To Buy Back Shares Without GMS, Total Budget Reaches IDR 14.97 Trillion

Illustration. (Photo: Doc. Antara)

The Financial Services Authority (OJK) has revealed that it has given permission to 21 issuers to hold a share buyback without a General Meeting of Shareholders (GMS).

Chief Executive of the Capital Market, Financial and Carbon Exchange Derivatives OJK Inarno Djajadi said that until April 9, 2025, there were 21 issuers planning to buy back without a GMS with a total buyback budget of IDR 14.97 trillion.

"There are 15 out of 21 issuers who have made buybacks without a GMS with a realization value of IDR 429.72 billion," he explained at a press conference, Friday, April 11.

Inarno conveyed that the OJK continues to monitor market developments and of course to take a quick and appropriate policy response in mitigating market volatility.

Previously, the Financial Services Authority provided a stimulus for listed companies to be able to buy back shares without the approval of the General Meeting of Shareholders (GMS) for the next 6 months.

Inarno said this strategic step was a response to volatility and also a decline in the combined stock price index (IHSG).

According to him, this policy is also a follow-up to meetings with stakeholders in the capital market which was held earlier on March 3, 2025.

"We announce the policy that open companies can repurchase shares or buy back without obtaining approval from the general meeting of shareholders," he told the media crew, Wednesday, March 19.

However, Inarno said that listed companies that will buy back must remain and must comply with POJK provisions 29/2023 concerning the Purchase of Shares Issued by Open Companies.

According to him, this policy was issued because the market conditions fluctuate significantly and will be valid up to 6 months after the date of the letter issued by the OJK, namely March 18, 2025.

Inarno conveyed that the buyback relaxation policy without GMS is expected to provide a positive signal that companies listed in Indonesia have good fundamentals and provide market confidence to investors.

"As well as providing flexibility for open companies in carrying out corporate actions to reduce stock price pressure," he said.