XL Axiata prepares Rp 500 billion for buyback
JAKARTA - PT XL Axiata Tbk. (EXCL) will repurchase its shares (buyback) which will be conducted within a period of three months from 7 April 2020 to 6 July 2020.
Through his written statement to the press release on Tuesday (7/4), President Director of XL Axiata, Sis Sisini, said the company prepared up to Rp 500 billion to carry out the corporate action.
He believes the company's stock price, which is approaching its lowest position of all time, does not reflect the company's business fundamentals that actually remain strong, but it reflects the negative market sentiment triggered by the COVID-19 pandemic. (ARM/AR)