JAKARTA - PT MNC Investama Tbk (BHIT) has extended the share buyback period until May 2021, because there are still remaining shares that the company can buy back.
Darma Putra, President Director of BHIT, said that the company planned to buy back as many as 5 billion shares on November 2, 2020. This is equivalent to 7.4% of the company's paid-up capital. The funds that have been prepared by the company for share buyback amounting to IDR 675 billion.
"There are still shares remaining from the maximum number of shares, allowed to be bought back by the company," said Putra through an information disclosure on the Indonesia Stock Exchange.
On November 6, 2020, BHIT reported that the number of shares bought back was 1.13 billion shares, with an average purchase price of IDR 90.79 per share.
According to idnfinancials.com data, BHIT has cash and cash equivalents of IDR 2.04 trillion as of September 2020. Thus, the funds prepared to carry out share buybacks are equivalent to 33.01% of the company's cash and cash equivalents. (KR/VA)