JAKARTA – PT Kino Indonesia Tbk (KINO) spares IDR 100 billion to conduct a shares buyback of a maximum of 20% of its entire issued and paid-up capital. Director of KINO, Budi Muljono, announced the news in the information disclosure quoted Thursday (3/2).
It is mentioned that the price of the buyback is set to IDR 5,000 per share. “The buyback period kicks off today (3/2) until May 2, 2022, with a maximum number of shares of 20 million units,” Muljono explained.
According to Muljono, this corporate action will drag assets and equity down each by IDR 100 billion. Then, the assets will deplete to IDR 5.21 trillion from IDR 5.31 trillion. Its equity will also drop to IDR 2.53 trillion from IDR 2.63 trillion.
The buyback does not need approval from the Extraordinary General Shareholders meeting, referring to the Financial Services Authority (OJK) Regulation issued on March 9, 2020, concerning the buyback due to other conditions as an impact of the IDX Composite Index decrease. (LK/ZH)