JAKARTA - PT Fast Food Indonesia Tbk (FAST) prepares Rp 10 billion to repurchase (buyback) 200 million of its shares. This corporate action plan will be carried out from today (12/3) to 11 June 2020.
As quoted from the company's disclosure published on Wednesday (11/3), Dalimin Juwono, Director of PT Fast Food Indonesia Tbk (FAST) said the maximum buyback price was set at Rp 1,300 per share. "The buyback will be carried out through transactions on the stock exchange and for that, the company will use brokerage services," he said.
According to him, the buyback can help stabilize the price of the company's shares amid the volatile market conditions. Also, this plan will provide flexibility for the company to manage its long-term capital. (LK/AR)