JAKARTA. PT Perintis Triniti Properti Tbk (TRIN), a real estate developer established in 2009, is set to conduct a buyback, investing a total budget of IDR 60 billion.
The total shares to be repurchased by TRIN will not exceed 20% of the entire issued and paid-up capital, as stated in the official statement by the company. “With the minimum requirement of shares outstanding of 7.5% of our issued and paid-up capital, which should remain in the hand of the public,” the management confirmed.
The funds to be used by TRIN in executing this corporate action originate from its internal cash. The management reassured that this buyback would not significantly affect the operational costs.
TRIN appoints PT Mirae Asset Sekuritas Indonesia to lead this buyback. The repurchase will take place through transactions in Indonesia Stock Exchange, fixing a lower or equal price to the previous stock price in the trading closing.
Based on idnfinancials.com data, TRIN’s shares in today’s trading session shifted 22.45% or 110 points higher to IDR 600 per share by 2.17 PM WIB. In comparison, TRIN’s stock price was closed at IDR 490 per share. (KR/ZH)