Jakarta – shares of Indonesian gold producer PT Merdeka Gold Resources Tbk (EMAS) experienced significant trading volume today following a large block trade involving over 464 million shares. The negotiated transaction, worth rp 2.92 trillion, signals strong institutional activity in the company, currently trading on the Indonesia Stock Exchange. While the identity of the buyer and seller remain confidential, the move comes amid a 59% surge in EMAS’s stock price over the past month, reflecting broader market confidence in the precious metals sector.
Jakarta, PT Merdeka Gold Resources Tbk. (EMAS) saw a substantial block trade today, January 22, 2026, executed through a negotiated transaction.
A total of 464,173,100 shares changed hands at an average price of Rp 6,300, resulting in a total transaction value of Rp 2.92 trillion. This significant volume suggests considerable institutional interest in the Indonesian gold producer.
As of this reporting, the parties involved in the transaction and its specific purpose remain undisclosed.
Shares of EMAS closed down 6.3% at a price of Rp 5,950. Today’s high of Rp 6,300 was slightly below the previous day’s closing price of Rp 6,350.
The stock has demonstrated strong performance over the past month, rising 59.09% since the beginning of December 2025, from a level of Rp 3,740. This growth reflects positive investor sentiment towards the company and the broader gold market.
Key stakeholders in EMAS include Edwin Soeryadjaya and Winato Kartono, identified as the ultimate beneficial owners as of December 31, 2025.
They maintain control of EMAS through a 57.66% ownership stake in PT Merdeka Copper Gold Tbk (MDKA). Additionally, Garibaldi ‘Boy’ Thohir holds an indirect 7.46% ownership in EMAS through his stake in MDKA.
Thohir also has a direct ownership position in EMAS via Saratoga Investama Sedaya, a company he co-owns with Edwin Soeryadjaya and Sandiaga Salahudin Uno.
