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Matahari Department Store only used 64.8% of its buyback budget

28 January 2020 16:06

JAKARTA. PT Matahari Department Store Tbk (LPPF) only used Rp 371.26 billion of its buyback budget, or around 64.8% of the total budget prepared.

Miranti Hadisusilo, Corporate Secretary of LPPF, said the company had prepared a budget of Rp.572.88 billion, for a buyback of 87.54 million shares at a maximum price of Rp13,330 per share.

"The approval given is for the maximum number, so it does not have to be that exact number," Hadisusilo explained as reported by Kontan on Tuesday (28/1) today.

During the buyback, LPPF bought back its shares at an average price of Rp 4,234.64 per share. Despite this, the price of the shares of the Lippo Group company has declined by 12.13% in the past week to Rp 3,550 per share. (KR/AR)

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