JAKARTA - PT Tower Bersama Infrastructure Tbk (TBIG) conducted a buyback of 96.21 million shares until the end of 2018.
In an information disclosure to the Indonesia Stock Exchange on Monday (14/1), TBIG reported that the average buyback price was Rp 4,785 per share. In total, throughout 2018 TBIG spent Rp 460.38 billion for the corporate action.
In April 2018 TBIG shareholders approved a plan to conduct a buyback of as many as 204 million shares or 4.5% of the total released shares. The funds prepared for the corporate action were recorded at Rp 1.2 trillion, with Rp 739.61 billion still remaining.
The shares could be repurchased through the IDX with an AGM approval within 18 months from April 30, 2018 to October 30, 2019. At the close of the first session of today’s (15/1) trade, TBIG stock price hiked by 1.31% or Rp 60 to Rp 4,630 per share. (MS)