JAKARTA. PT Superkrane Mitra Utama Tbk (SKRN) has prepared a budget of Rp 110 billion to buy back up to 20% of its issued and paid-up share capital.
In its disclosure published on the Indonesia Stock Exchange's (IDX) website on Monday (27/7), the company explained that the buyback action would be carried out from 27 July 2020 to 26 October 2020.
The company's management explained that the impact of the corporate action was the loss of interest income. However, the company's management believes that the use of these funds will not have a material impact on the company's business activities. (AM/AR)