Hartadinata Abadi signs Bank Mandiri deal. Hartadinata Abadi stock faces 9.09 percent dilution

Published on 10/13/2026 at 10:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Hartadinata Abadi plans 460,526,240 new shares and 9.09 percent dilution. Hartadinata Abadi stock stood at IDR 2,030 on October 13, 2026.

Key points in brief

Hartadinata Abadi signed a one-year Bank Mandiri agreement for EMASKU gold distribution on October 2, 2026.
The planned private placement covers 460,526,240 shares and implies 9.09 percent dilution for existing holders.
Hartadinata Abadi stock stood at IDR 2,030 on the Indonesia Stock Exchange on October 13, 2026, with a 52-week range of IDR 1,140 to IDR 3,440.

Hartadinata Abadi, ID1000139405, Illustration mit AI erstellt.

Hartadinata Abadi signed a one-year Bank Mandiri agreement for EMASKU gold distribution on October 2, 2026, while its planned capital increase could dilute existing holders by 9.09 percent. As Liputan6.com reported on October 7, the agreement covers 99.99 percent gold bars and gives Bank Mandiri the role of buyer.

Three events shape the story

On September 19, 2026, Hartadinata Abadi reported fiscal 2025 revenue of IDR 44.55 trillion and net profit of IDR 978.49 billion, according to MarketScreener. On September 24, 2026, the company disclosed plans to issue as many as 460,526,240 new shares, equal to 10.00 percent of issued and paid-up capital, as KabarBursa.com reported. On October 2, the Bank Mandiri distribution agreement added a second growth channel for EMASKU products.

What does the capital plan change?

The proposed issuance is designed to raise working capital or fund capital expenditure. KabarBursa.com reported that management projected total assets to increase from IDR 11.35 trillion to IDR 12.40 trillion and total equity to rise from IDR 3.75 trillion to IDR 4.79 trillion after the transaction.

The balance-sheet figures imply a sharper capital base, but the share count is the immediate investor variable. The proposed 9.09 percent dilution means existing holders would own a smaller proportion of the company if the new shares are issued.

Half-year growth supplies the counterpoint

In the first half of 2026, net profit reached IDR 700.01 billion, up 100.86 percent from IDR 348.51 billion in the first half of 2025. Revenue rose to IDR 33.80 trillion from IDR 15.05 trillion, an increase of 124.61 percent, according to KabarBursa.com. Gold sales volume reached 13 tons, up 46.74 percent year over year, while the average selling price rose 53.21 percent to IDR 2,591,673 per gram.

Two dates set the next test

Independent shareholders had until October 15, 2026, at 4:00 p.m. WIB to submit their voting statement. The extraordinary general meeting is scheduled for October 16, 2026, at 10:00 a.m. WIB, when shareholders will consider the private placement.

IDR 2,030 sets the market reference

Hartadinata Abadi stock stood at IDR 2,030 on the Indonesia Stock Exchange on October 13, 2026. The company had a market capitalization of IDR 9.3 trillion, while the 52-week range was IDR 1,140 to IDR 3,440.

Market context: Market report IDX Composite.