JAKARTA - PT Nippon Indosari Corpindo Tbk. (ROTI), a bakery company, will conduct buyback starting today (12/3) until 11 June 2020.
The company explained through its disclosure at the IDX today (12/3) that it planned to purchase 700 million shares for Rp 14 billion.
The corporate action will provide flexibility for the company in managing long-term capital, since those shares can be sold in the future with optimal value.
In addition, the company set the maximum buyback price at Rp 1,500 per share, and the company will use the services of a broker. (ARM/AR)