JAKARTA. PT Jaya Real Property Tbk (JRPT), a property and real estate company under the DKI Jakarta Government, plans to issue a share buyback with IDR 75 billion funds.
JRPT targeted 131.5 million units of shares to be rebought. They were equal to 0.956% of the company’s total issued and paid-up capital.
The management of JRPT claimed that this buyback would not significantly and negatively affect the performance and revenue. On the contrary, the net profit per the company’s shares is expected to climb up to IDR 68.84 from its initial IDR 68.17.
JRPT would issue the shares buyback via Indonesia Stock Exchange. The company has appointed PT Indo Premier Sekuritas as the broker-dealer to help with the shares purchases.
According to idnfinancials.com, PT Pembangunan Jaya dominates 63.59% of JRPT shares. Meanwhile, the DKI Jakarta Government owns 40% of PT Pembangunan Jaya. (KR/ZH)