JAKARTA. PT Nusa Konstruksi Enjiniring Tbk (DGIK) announced the plan to repurchase shares (buyback) of 300 million units at most, equivalent to 5.41% of shares outstanding.
Rahman Sadikin, Director of DGIK, claimed that the company prepared IDR 50 billion for this buyback. “This corporate action will take place within a maximum of three months after this information disclosure publication date,” he revealed yesterday (8/3).
Sadikin reaffirmed that this shares buyback would not negatively affect DGIK’s revenue. He reasoned that “this buyback utilises the company’s idle funds.”
The shares buyback will be conducted using the purchase system through Indonesia Stock Exchange (IDX). After going through with this corporate action, DGIK’s earnings per share will rise to IDR 7.17 from the previous IDR 0.1 per share.
Based on idnfinancials.com data, DGIK’s stock price by the end of the trading session on Monday (8/3) was seen increasing 0.68% or one point to IDR 149 per share. However, in a bigger picture, DGIK’s stock price from the beginning of the year until yesterday (year-to-date) had fallen 25.13% or 50 points. (KR/ZH)