JAKARTA. PT Indofood Sukses Makmur Tbk (INDF) continues to monitor the movement of the prices of Indofood Agri Resources Ltd (IFAR) shares on the Singapore Stock Exchange (SGX), in the context of a buyback for delisting.
Thomas Tjhie, Director of INDF, said that his party had bought 72.41 million IFAR shares for SG$ 23.53 million in July. In its semi-annual financial statements, the company noted that its effective ownership in IFAR had reached 67.98% by the end of July.
Nevertheless, the purchased amount so far has not reached half of the company's target to be able to delist IFAR from SGX.
Furthermore, INDF will continue to follow the development of IFAR share prices in SGX to complete the buyback. The buyback funds, said Tjhie, came from internal cash and the company's loan facilities. "Depending on availability in the market. We make purchases every day, but it depends on the seller, "said Tjhie. (KR/AR)