JAKARTA. PT Surya Citra Media Tbk (SCMA) has completed a buyback of 13,626,900 shares for Rp 16.43 billion.
The buyback was carried out during the second semester of 2019. SCMA has prepared a budget of Rp 2.94 trillion for the buyback. In accordance with the decision made at the meeting of shareholders, the buyback period ended on 31 December 2019.
Gilang Iskandar, Corporate Secretary of SCMA, said the purchase was made in 4 stages. First, the company bought back around 3.63 million shares at an average price of Rp 1,251.31. Then 3 million shares at the price of Rp 1,186.19, 5 million shares at the price of Rp 1,181.53, and 2 million at the price of Rp 1,214.46.
The SCMA did not explain the plan for the remaining buyback budget. (KR/AR)