JAKARTA. PT Japfa Comfeed Indonesia Tbk (JPFA), an animal feed manufacturer listed on Indonesia Stock Exchange (IDX) since 1989, plans to launch a shares buyback, allocating IDR 350 billion in total.
The management of JPFA will ask for approval from the shareholders regarding this buyback plan, as stated in the official release. “The company will schedule an Extraordinary General Shareholders Meeting on Wednesday, April 6, 2022,” the board of directors of JPFA announced in the information disclosure in IDX.
With the allocated IDR 350 billion, the shares repurchased by JPFA in the buyback agenda will be equal to 1.5% of the entire shares. The execution price of the buyback will be set according to the Financial Service Authority (OJK) Regulation No. 30/2017.
“The buyback will take place both in the stock exchange and outside. The buyback in the stock exchange will have the company appoints the brokerage service registered in the stock exchange,” the management further clarified.
As of December 31, 2021, 55% of JPFA were under the control of Japfa Ltd, an agribusiness company headquartered in Singapore. Public investors claimed another 42.59%, while 2.41% other were in the treasury stock.
JPFA’s stock price shifted upwards by 15 points or 0.96% to IDR 1,585 per share in today’s trading session. Since the beginning of 2022, JPFA’s stock price has been depleted 140 points, dropping 8.12% from IDR 1,725 per share. (KR/ZH)