JAKARTA – PT Nippon Indosari Corporindo Tbk (ROTI) allocates IDR 480 billion to repurchase its shares (buyback), amounting to 300 million units, from July 21 to October 20, 2021. Arlina Sofia, Director of Nippon Indosari Corporindo, reveals this initiative in the information disclosure, quoted on Monday (19/7).
It is further specified that the company would limit the execution price to IDR 1,600 each and appoint PT BCA Sekuritas as the organising company for this transaction. “Shares buyback could stabilise the price during the unreliable market condition. Additionally, this step could offer flexibility to the management in handling long-term capital,” Sofia adds.
According to Sofia, this corporate action would not affect the company’s business performance and revenue as it would utilise its internal cash.
As of Q1 2021, ROTI owns IDR 1.14 trillion of cash and cash equivalents. It increases from IDR 1.01 trillion recorded in December 2020. Its total equity reaches IDR 3.28 trillion, slightly higher than IDR 3.22 trillion reported in Q4 2020. Lastly, its sales score IDR 787 billion, and its current year’s profit is at IDR 56.70 billion. (LK/ZH)