JAKARTA - PT Kresna Graha Investama Tbk (KREN) will repurchase (buyback) 3,641,694,020 of its shares, or 20% of the company's paid-up capital. The company prepares a budget of Rp 18.20 billion for the purpose.
As quoted from the company's disclosure on Monday (23/3), the corporate action will not affect the company's financial condition. The budget for the buyback was taken from the company's internal cash.
The corporate action will be started today and will be ended on 24 June 2020, with a maximum purchase price of Rp 515 per share. The company has appointed PT Kresna Sekuritas as the broker for the buyback. (LK/AR)