JAKARTA – PT Itama Ranoraya Tbk (IRRA) allocates IDR 120 billion to repurchase a maximum of 75 million shares traded in the exchange. This corporate action would take three months to be done, starting last week on November 26, 2021.
Pratoto Satno Raharjo, Director of Itama Ranoraya, announced that this corporate action would use the company’s internal cash. Thus, it won’t affect the company’s revenue and financial condition. “The net profit per share as of December 2020 that reached IDR 40 each would increase to IDR 68.75 per share after this buyback,” he said in the information disclosure on Monday (29/11).
According to Raharjo, the company’s outstanding shares would also change by the end of this corporate action. However, it would not significantly affect the net profit per share. The repurchased shares are equal to approximately 4.69% of the total shares.
Until October 31, 2021, IRRA’s shares amount to 1.6 billion shares, 75.97% of which belong to PT Global Dinamika. Then, PT Neumedik Jaya claims another 5.25%, while public investors share the remaining portion, each getting below 5%. (LK/ZH)