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Bank OCBC NISP plans share buybacks

19 February 2021 13:31

JAKARTA - PT Bank OCBC NISP Tbk (NISP) has prepared a budget of IDR 500 million for a share buyback corporate action plan. This was conveyed by Hartati, Director of PT Bank OCBC NISP Tbk (NISP) in an information disclosure quoted on Friday (19/2).

He conveyed that the corporate action plan will be implemented no later than 18 months after obtaining shareholder approval at the Extraordinary General Meeting of Shareholders (EGMS) which will take place on April 6, 2021. "The estimated cost of IDR 500 million includes securities brokerage commission and other fees," he said.

According to him, the number of shares to be purchased is 436,000 shares or 0.002% of the total issued and paid up capital by the company. The company's operations will not be affected by the corporate action plan because currently NISP has more than sufficient capital.

As of December 2020, NISP recorded assets of IDR 206.29 trillion, net profit of Rp. 2.10 trillion, equity of IDR 29.82 trillion, and the number of shares outstanding as many as 22,945,296,972 shares. After this corporate action, the total assets and equity will each shrink by IDR 500 million. (LK/LM)

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