CLEO prepares Rp 35 billion for buyback
JAKARTA - PT Sariguna Primatirta Tbk (CLEO) prepares Rp 35 billion to buy back as many as 100 million of its shares starting today until 20 June 2020, with the maximum price set at Rp 500 per share.
As quoted from the company's disclosure on Monday (23/3), Lukas Setio Wongso, Director of PT Sariguna Primatirta Tbk (CLEO) said the buyback is done to stabilize the price of the company's shares amid the uncertain market conditions caused by the Covid-19 outbreak.
The corporate action also provides flexibility for the company in managing its capital in the long-term. (LK/AR)