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HEAL allocates IDR 100 billion to repurchase 80 million shares

13 December 2021 06:22

JAKARTA – PT Medikaloka Hermina Tbk (HEAL), the managing company of Hermina Hospital, spared IDR 100 billion to repurchase its shares (buyback), taking place from today (13/12) to January 7, 2022. Aristo Setiawidjaja, Director of HEAL, announced this news in the information disclosure, quoted on Monday (13/12).

It was specified that the total purchased shares would amount to 80 million units with a maximum price of IDR 1,450 per share. “The company has enough working capital and cash flow to execute this plan,” Setiawidjaja confirmed.

As of September 2021, HEAL’s total equity was reported to reach IDR 4.16 trillion, shifting from the same period last year of IDR 3.38 trillion. The current assets reached IDR 2.67 trillion, with cash and bank accounts of IDR 361.92 billion.

This year, the company has been putting extra effort into buybacks. For instance, from November 8 to 24, 2021, the company also spent IDR 50 billion to repurchase 40 million shares. Previously, it had allocated IDR 30 billion to rebuy 25 million shares from September 3 to October 1, 2021.

“The buyback could stabilise the stock price amidst the fluctuating market condition. This would also grant the company flexibility in managing long-term capitals,” Setiawidjaja added. (LK/ZH)

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