JAKARTA. PT Bank Mestika Dharma Tbk (BBMD) plans to rebuy its shares, or issue a stock buyback, for IDR 632 million, starting from June 4, 2021, to December 3, 2022.
In its official statement, BBMD stated that the repurchased shares would be distributed as variable remunerations or allowances for its board of directors and commissaries. The directors and the commissaries then were not allowed to trade the said shares within the next three years.
The stock buyback would be issued through trading in Indonesia Stock Exchange. “The said purchase would be at a lower than or equal to the previous stock trading price,” the management explained through a written statement received by idnfinancials.com
Based on idnfinancials.com data, BBMD has been running since 1955 in Medan, North Sumatera. The company started as a foreign exchange private bank. Currently, the company’s assets were recorded at IDR 14.16 trillion by December 31, 2020. (KR/ZH)