JAKARTA. PT Jaya Real Property Tbk (JRPT), a property and real estate developer under PT Pembangunan Jaya, arranges a buyback with a total budget of IDR 100 billion that will last approximately three months.
Yohannes Henky Wijaya, Vice President Director of JRPT, announced that the total number of repurchased shares will amount to 192.31 million units at most. The number will be equal to 1.44% of its entire issued and paid-up capital.
The shares buyback is chosen as an alternative as the market condition fluctuates significantly, as reasoned by Wijaya in the information disclosure in Indonesia Stock Exchange (IDX). “The company wishes to maintain sustainable growth in the future that will benefit all stakeholders,” he added.
The buyback will be held directly through and outside the stock exchange. JRPT will appoint one member of the IDX as the broker in the buyback.
Based on idnfinancials.com data, JRPT also conducted another buyback in October 2021. The total budget allocated by the company to this corporate action amounted to IDR 60 billion.
During the closing of today’s first session of stock trading, JRPT’s price went up 0.98% or 5 points higher to IDR 515 per share. Since the beginning of 2022, the company’s stock price has been seen dropping 0.96% or 5 points lower from IDR 520 per share. (KR/ZH)