JAKARTA. PT Merdeka Copper Gold Tbk (MDKA), a mining company with the second largest market capitalization in Indonesia, estimates that its cash will decrease by 62.42% after its buyback.
Adi Adriansyah Sjoekri, Corporate Secretary of MDKA, explained that the buyback will be done using the company's internal cash. "It will result in a decrease in the company's internal cash with a maximum value of Rp 568 billion," said Sjoekri through an information disclosure today.
Nevertheless, MDKA ensures that the buyback will not affect the company's revenue. "It will not affect the company's business and operational activities," said Sjoekri.
MDKA will seek approval from shareholders to conduct the buyback on 29 July 2020. The buyback will be done no later than 18 months after the approval from the shareholders is given. (KR/AR)