Hartadinata plans 460 million shares. Kiwoom targets Hartadinata Abadi stock at IDR 2,900

Published on 10/14/2026 at 17:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue reached IDR 33.81 trillion, up 124.61 percent year over year. The issue could dilute Hartadinata Abadi stock by 9.09 percent.

Capital plan and growth figures

Hartadinata Abadi planned a maximum 460,526,240-share private placement on October 14, 2026.
First-half 2026 revenue reached IDR 33.81 trillion, up 124.61 percent year over year.
Kiwoom set a 12-month target of IDR 2,900 on October 12, 2026.
The extraordinary meeting is scheduled for October 16, 2026, followed by earnings on October 29, 2026.

Hartadinata Abadi, ID1000139405, Illustration mit AI erstellt.

Hartadinata Abadi plans a private placement of up to 460,526,240 shares, while Kiwoom set a 12-month target of IDR 2,900 for Hartadinata Abadi stock. Kontan reported the share plan on October 14, 2026, while Kiwoom published its target on October 12, 2026.

Three dated corporate milestones

On September 18, 2026, Kontan reported that Hartadinata Abadi retained its 2026 revenue-growth target of 45.00 percent to 60.00 percent and net-profit growth target of 30.00 percent to 45.00 percent. On October 2, 2026, the company signed a one-year EMASKU gold-bar supply agreement with Bank Mandiri, according to Kontan. On October 14, 2026, the private-placement proposal became the latest dated item, with the maximum issue equal to 10.00 percent of existing shares, according to Kontan.

What does the share issue change?

The proposed issue would increase the share count from 4.61 billion to a maximum of 5.07 billion, leaving non-participating holders with potential dilution of 9.09 percent. The proceeds are intended for working capital, especially purchases of gold grain or bars from non-affiliated suppliers, while the final investor and issue price remain subject to the approval process described by Kontan.

The operating backdrop is stronger than the financing headline alone suggests. In the first half of 2026, revenue reached IDR 33.81 trillion versus IDR 15.05 trillion in the first half of 2025, a 124.61 percent increase, while net income rose to IDR 700.01 billion from IDR 348.51 billion, according to IT Boltwise.

Dates set the next test

Shareholders are scheduled to consider the private placement at the extraordinary meeting on October 16, 2026. Investing.com lists October 29, 2026 as the next earnings date, giving investors two near-term checkpoints for capital approval and operating progress.

Growth meets dilution risk

Hartadinata Abadi is listed on the Jakarta Stock Exchange under ticker HRTA and operates in gold jewelry and related distribution. The company therefore enters the next reporting window with 124.61 percent first-half revenue growth alongside a proposed 9.09 percent dilution risk, a combination that makes execution and capital allocation central to the stock story.

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