Research

How Would Emtek Unlock IDR21tn Cash in BUKA?

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Algo Research Team

Company | Oct 16, 2024 | Views: 2604

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Key Summary:

  • Emtek likely purchased Ant Group shares
  • In line with peers, buyback should be on the horizon
  • IDR210/share cash + liquid asset in BUKA needs unlocking

Bukalapak (BUKA) came under the spotlight this month when its share price was up +30% in one day due to market speculation that the company was an acquisition target, which has been denied.


A few days later, there was a significant transaction in the negotiation market worth IDR 2 trillion at an average price of IDR 155/share for 13.4 billion shares or 13% of total outstanding.

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