JAKARTA - PT Bank Negara Indonesia (Persero) Tbk (BBNI) carried out a share buyback of at least 7.5% to 20% of the company's paid up capital, today (16/3). The corporate action was conducted to respond to fluctuations in share prices on the stock market some time recently due to the Covid-19 pandemic.
As quoted from the company's disclosure on Friday (3/16), the company allocated funds of Rp 1.8 trillion to repurchase shares circulating in the market. The corporate action will last for three months until June 15, 2020. The funds taken for this plan come from the company's internal cash.
This stock purchase does not significantly interfere with the company's financial performance. As of December 31, 2019, total assets were recorded at Rp 845.60 trillion, net profit for the year was Rp 15.38 trillion, total equity of Rp 125 trillion and earnings per share (EPS) of Rp 825. After this corporate action was carried out, the company's assets will be recorded at Rp 843.80 trillion, net profit of Rp 15.38 trillion, total equity of Rp 123.20 trillion, and EPS to Rp 837 per share. (LK)