JAKARTA. PT Surya Semesta Internusa has ended its share buyback program, which has been carried out since 16 March 2020. The company is estimated to have spent Rp 34.96 billion for the buyback.
Johannes Suriadjaja, President Director of SSIA, said that the company had bought back 100,930,300 of its shares. The average price used in the buyback, said Suriadjaja, was Rp 346.39 per share.
According to idnfinancials.com data, SSIA only realized 11.62% of its budget for the buyback. On 13 March, Suriadjaja said that the company had prepared a budget of Rp 300 billion, with maximum purchase price of Rp 800 per share.
Suriadjaja did not explain why SSIA chose to end the buyback program. However, he mentioned in a letter dated 13 March that the corporate action would be stopped if it had a material impact on the company's liquidity. (KR/AR)