JAKARTA – PT Kalbe Farma Tbk (KLBF) allocates a budget of up to IDR 1 trillion to repurchase 588 million shares (buyback) starting today (9/2) until the next three months (8/5). Vidjongtius, President Director of Kalbe Farma, announced the news in the information disclosure quoted Wednesday (9/2).
“The company sets a maximum shares purchasing price to IDR 1,700 per share. The buyback is intended to stablise the price amidst the fluctuating market condition, and thus providing certainty to the investors regarding the company’s stock value,” Vidjongtius explained.
It was also revealed that the fund to support this corporate action would be taken out of internal cash and loans. The interests applied by the company concerning this buyback are estimated to reach IDR 29 billion per year.
The upcoming corporate action does not await approval from the Extraordinary General Shareholders Meeting, referring to the Financial Service Authority (OJK) Regulation regarding the buyback during the significantly fluctuating market condition. (LK/ZH)