JAKARTA (TheInsiderStories) – A total of nine issuers from the private sector have announced to buyback shares on Indonesia Stock Exchange (IDX) with a total amount Rp2.65 trillion (US$182.75 million). The issuers wants to take advantage on the relaxation policy issued by the Financial Services Authority (FSA).
The biggest amount comes from PT Nippon Indosari Corpindo Tbk (IDX: ROTI). The breade producer will buy a maximum of 700 million shares with a nominal value of Rp14 billion.
The buyback period since March 2 to June 11 with the maximum price Rp1,500 a share. Thus, the maximum purchase value could reach Rp 1.05 trillion, said the company.
While, natural resources producer, PT Barito Pacific Tbk (IDX: BRPT), said the deputy director, Rudy Supaman, prepared funds as much as Rp1 trillion for the program. The firm will implements the program within three months period, starting March 13 to June 13.
The company owned by Prajogo Pangestu, set to repurchase around 2 percent of the issued and fully paid capital. The corporate action helped by PT Henan Putihrai.
Then, the plantation company, PT Tunas Baru Lampung Tbk (IDX: TBLA) also plans to buyback 5 million shares or equivalent to 9.35 percent of issued and paid up capital. This palm oil issuer will make a purchase in stages until June 9. It said preparing funds of up to Rp300 billion for the program handle by PT Mahastra Capital.
Furthermore, the property developer, PT Jaya Real Properti Tbk (IDX: JRPT) also provided Rp100 billion to purchase a maximum of 243.9 million shares or 1.77 percent of the total outstanding shares. PT CLSA Sekuritas Indonesia became the broker in this action.
In addition, insurance firm, PT Rukun Raharja Tbk (IDX: RAJA) has allocated a maximum of Rp40.4 billion to buy up to 422 million shares or 10 percent of paid up capital. The purchase period its planned for April 21 to Oct. 21, 2021.
PT Fast Food Indonesia Tbk (IDX: FAST), a restaurant operator, also intends to hold a maximum buyback of 200 million shares. The manager of Kentucky Fried Chicken restaurant chain prepares Rp10 billion for the plans. The company will buy back shares from March 12 to June 11.
The securities house, PT Yulie Sekuritas Indonesia Tbk (IDX: YULE) no lag also plans to conduct a buyback with a maximum price of Rp200 per share. The buyback will be held on March 12 to June 11. The company prepared Rp70 billion funds to repurchase 350 million shares or equal to 19.61 percent of issued and paid-up capital.
There is also PT Eastparc Hotel Tbk (EAST), a hotel chain manger, which set aside Rp20 billion for the buyback program. The firm will carry out gradually starting March 13 to June 13.
The distributor of medical devices, PT Itama Ranoraya Tbk (IDX: IRRA) also disburse funds as much ash Rp60 billion. The publicly listed firm, aimed to repurchase 200 million shares or equivalent to 12.5 percent of the total outstanding shares.
Earlier, five state own enterprises (SOEs) was announced their plans to buyback its shares, namely PT Jasa Marga Tbk (IDX: JSMR), PT Wijaya Karya Tbk (IDX: WIKA), PT PP Tbk (IDX: PTPP), PT Waskita Karya Tbk (IDX: WSKT) and PT Adhi Karya Tbk (IDX: ADHI).
The SOEs prepared funds Rp1.45 trillion to buyback its shares from the stock market. The SOE ministry itself announced there would be 12 state-owned to conduct buybacks with total value up to Rp8 trillion.
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