JAKARTA - PT Telefast Indonesia Tbk (FAST) will buy back 333,333,300 shares with a total budget of Rp 6.66 billion. This corporate action will not disrupt the business and the purchase price of shares will be limited to the level of Rp 180 per share
As quoted from the disclosure of company information on Wednesday (3/18), Jody Herdian, President Director of PT Telefast Indonesia Tbk (FAST) said that the corporate action plan will be carried out starting tomorrow (20/3) until 20 June 2020. "Repurchases can stabilize prices in fluctuating market conditions, "he said.
According to him, this corporate action will provide flexibility for companies in managing long-term capital. The shares to be purchased in the buyback program will be stored as treasury shares and can be sold in the future at an optimal value. (LK)