Indika Energy (INDY) Responds to Rumors of Potential Sale of Kideco Mine
Fri 17 Jul 2026, 11:27 AM
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PT Indika Energy Tbk (INDY) has responded to reports stating that the company is considering selling part or all of its share ownership in PT Kideco Jaya Agung.
"Regarding recent media reports concerning the Company’s investment portfolio, the Company does not provide comments on market rumors or speculation," INDY management stated in an information disclosure submitted to the Indonesia Stock Exchange (IDX) on Friday (17/7/2026).
The company emphasized that it remains committed to upholding the principles of good corporate governance and complying with all applicable capital market regulations. INDY also stated that any material information or developments will be disclosed to the public transparently through the company’s official channels in accordance with disclosure requirements.
In the information disclosure, INDY also outlined the significant contribution of Kideco to the company’s financial performance. It was revealed that Kideco’s contribution accounted for approximately 72.8% of INDY’s total revenue.
The details show that as of 31 March 2026, Kideco contributed revenue of USD 377.4 million, while INDY’s consolidated revenue reached USD 493.2 million.
In terms of profitability, Kideco recorded a net profit of USD 42.4 million in the first quarter of 2026. Meanwhile, INDY’s consolidated net profit during the same period was recorded at USD 7 million.
Previously, reports circulated that INDY was reviewing the potential divestment of part or all of its ownership stake in PT Kideco Jaya Agung. The value of the divestment transaction was estimated to exceed USD 1 billion, or approximately IDR 18.1 trillion.
Currently, INDY holds around 91% of Kideco’s shares, equivalent to approximately 537 million shares. PT Kideco Jaya Agung is a coal mining company operating in Paser Regency, East Kalimantan.
Following the reports, INDY’s share price declined by 2.80% to IDR 2,430 at the close of trading on Friday (17/7/2026). Its market capitalization reached IDR 12.66 trillion.
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