Nippon Indosari to issue a buyback of 300 million shares
JAKARTA. PT Nippon Indosari Tbk (ROTI), bread products manufacturer trading under the Sari Roti brand, announced the plan to repurchase its shares or shares buyback for IDR 480 billion.
Arlina Sofia, the Director of ROTI, mentioned that the targeted shares to be repurchased would be 300 million units of shares, with a maximum price of IDR 1,600 each.
The buyback period of ROTI’s shares would take place from April 19, 2021, to July 19, 2021. The assigned broker-dealer in this buyback process is PT BCA Sekuritas.
“The shares buyback would be carried out through the transactions at Indonesia Stock Exchange,” Sofia added through the information disclosure at Indonesia Stock Exchange earlier today.
According to idnfinancials.com, the company’s net profit saw a 28.57% decline year-on-year (yoy) in 2020 to IDR 215 billion. One of the triggers was the poor net revenue performance, which went down by 6.74% yoy to IDR 3.31 trillion in 2020. (KR/ZH)