DIVA allocates Rp 14.28 billion for buyback
JAKARTA - PT Distribusi Voucher Nusantara Tbk (DIVA) will repurchase 142,857,140 of its shares from 23 March to 23 June 2020. The company prepares a budget of Rp 14.28 billion for that purpose.
As quoted from the company's disclosure on Wednesday (18/3), Raymond Loho, President Director of PT Distribusi Voucher Nusantara Tbk (DIVA) said the buyback will help stabilize the price of the company's shares while also provide flexibility for the company to manage its long-term capital.
DIVA's management set a maximum price of Rp 2,950 per share for the buyback. In case that the buyback caused a negative material effect, the company will stop it. (LK/AR)