JAKARTA – PT Medikaloka Hermina Tbk (HEAL), the managing company of Hermina Hospital, yet again announced the option to repurchase 80 million shares (buyback) for IDR 1,450 each, starting March 1 until March 10, 2022. This company is tirelessly launching buyback after buyback amidst the COVID-19 pandemic due to its stock fluctuation in the pharmaceutical sector.
Aristo Setiawidjaja, Director of Medikaloka Hermina, revealed that his company allocated IDR 100 billion for this corporate action scheduled for the next ten days. “The repurchase of shares can stabilise the stock price in the middle of a fluctuating market condition,” he added in the information disclosure quoted Tuesday (1/3).
According to Setiwidjaja, the said step has given the room to manage the capital in the long term. The shares acquired in the buyback will then be stored as treasury stock, tradable in the future with a maximum value should the company requires it to raise the capital.
Furthermore, the money used in this corporate action was taken out of the internal cash, thus not disrupting the company’s revenue. “However, it will insignificantly affect the profit per share of the company,” Setiawidjaja added.
Until February 2022, HEAL had launched two similar corporate actions. As of January 31, 2022, HEAL’s shares amounted to 14,890,000,000 units, 363,350,100 shares, or 2.44% of which are in the treasury stock. Meanwhile, 58.93% of them belong to shareholders (above 5%), while the public claims another 38.62%. (LK/ZH)