JAKARTA - PT Pan Brother Tbk (PBRX) prepares Rp 210 billion to repurchase 525 million of its shares or 8.10% of the company's issued and paid-up capital.
As quoted from the company's disclosure on Monday (16/3), the buyback was carried out based on the consideration of the PBRX board of directors, which refers to the OJK's Circular No.3 / 2020 issued last week. This policy was made in response to fluctuations in share prices that have experienced strong pressure since January 2020.
The corporate action does not significantly disrupt the company's performance, since according to its financial statements as of 30 September 2019, the company still has US$ 96.52 million in unspecified profit balance. (LK/AR)