JAKARTA. PT Asuransi Multi Artha Guna Tbk (AMAG), more often known as Asuransi MAG, is in the middle of a buyback process, expending a total of IDR 82 billion.
Pankaj Oberoi, President Director of AMAG, announced that shares buyback would continue until February 10, 2022. The said shares to be repurchased by the company amounted to 237.19 million shares.
“The purpose of this [buyback] transaction is to raise our stock price in the future,” Oberoi added in the information disclosure in Indonesia Stock Exchange earlier today (11/11).
The buyback is performed through the IDX, assigning PT CGS-CIMB Sekuritas Indonesia as the broker.
According to idnfinancials.com, AMAG’s today’s stock price was closed while climbing by 0.59% or 2 points to IDR 340 per share. Since the beginning of the year, AMAG’s stock price has shown a great increase of 50.44% or 114 points, moving from the initial IDR 226 per share. (KR/ZH)