JAKARTA - PT Jasa Marga (Persero) Tbk (JSMR) allocates Rp 500 billion for buyback, which will be done to stabilize its share price following the 18.46% decline in the Jakarta Composite Index (JCI) recorded in Q1 2020.
As quoted from the company's information disclosure on Thursday (12/3), the company will keep the shares purchased during the buyback as treasury stock for three years. However, if the share price remains stable or rises higher, the company will resell them 30 days after the buyback.
As is known, the stock market in Indonesia is slowing down due to the impact of the Covid-19 outbreak. (LK/AR)