JAKARTA. PT Hermina Medikaloka Tbk (HEAL), the managing company of Hermina Hospital network, arranges a shares buyback of 40 million units.
Aristo Setiawidjaja, Director of HEAL, confirmed that the buyback was scheduled from November 8 to 24, 2021. The total budget prepared for this corporate action amounts to IDR 50 billion at most.
“Repurchasing shares could stabilise the price amidst the fluctuating market condition,” Setiawidjaja stated in the information disclosure in Indonesia Stock Exchange (IDX).
Setiawidjaja also revealed that this buyback would only use HEAL’s internal cash. Thus, he believed that repurchasing the shares would not significantly affect the company’s revenue in the future, as its working capital and cash flow are deemed adequate.
The execution price for the buyback would be capped at IDR 1,450 per share. This action would be performed through transactions in IDX using the securities trading brokerage services. (KR/ZH)