Japfa Comfeed to buy back IDR800 billion shares | Company data
(The Insider Stories) – Poultry and feed producer PT Japfa Comfeed Indonesia (IDX:JPFA) plans to buy back shares over a period of 18 months starting in June, spending up to 800 billion rupiah on the program, it said in a brief prospectus.
Preparation is also in the final stages for a plan to raise US$225 million from a bond sale to finance expansion, according to corporate secretary Maya Pradjono.
Japfa Comfeed will spend up to IDR1.8 trillion to boost its capacity of day-old chick production using cash resources as well as funds from the bond sale to finance the expansion.
Japfa is one of the largest and best-integrated agri-food companies in Indonesia. Its core business activities include animal feed manufacturing, chicken breeding, poultry processing and aquaculture farming.
Revenue increased 14% to IDR17.8 trillion last year while net income jumped 60.7% to IDR992 billion.
