Tunas Baru Lampung prepares Rp 300 billion for buyback
JAKARTA. PT Tunas Baru Lampung Tbk (TBLA) has prepared Rp 300 billion to repurchase (buyback) 500 million of its shares.
According to its disclosure, TBLA management said the effort was made to stabilize the company's share price in the market, while also help stabilize the capital market in Indonesia.
"This is in line with the economic condition both regionally and nationally," said TBLA's management in the disclosure.
TBLA also plans to sell back the shares purchased by the company in the buyback. "In such a case, TBLA can obtain profit from the sale of shares that have been repurchased," explained TBLA. (KR/AR)