JAKARTA. PT Multipolar Tbk (MLPL), one of the investment companies under Lippo Group, announces its shares buyback plan, allocating IDR 425 billion.
The management mentions that the total shares to be repurchased amounts to a maximum of 1.46 billion units, 10% of its issued and paid-up capital. Through the information disclosure in Indonesia Stock Exchange today, the management claims that the stock buyback would be carried out after gaining approval during the Extraordinary General Shareholders Meeting.
Furthermore, the entire shares collected by MLPL during this buyback action would be stored in the treasury stock for a maximum of three years. The purchasing price would be limited to IDR 720 per share. The buyback would take place both through and outside the exchange.
MLPL projects that the stock buyback would keep continuing from July 21, 2021, until January 20, 2023. Until today, there has been no news regarding the assigned underwriters. (KR/ZH)