JAKARTA – PT Kino Indonesia Tbk (KINO) has spent IDR 67.95 billion to repurchase 20 million shares (buyback) within the past month, from February 3 to March 15, 2022. Director of Kino Indonesia, Budi Muljono, relayed the news in the information disclosure quoted Friday (18/3).
According to Muljono, the said corporate action was held while keeping an eye on the significantly fluctuating market condition. Using the 2020 Circular Letter of the Financial Services Authoirty (OJK) as the reference, the buyback involved a maximum of 20% of the paid-up capital and minimum shares outstanding of 7.5% of the paid-up capital.
The investment realised by KINO for this buyback was below the originally allocated budget of IDR 100 billion. Previously, it was estimated that the company’s total assets would shrink by IDR 100 billion to IDR 5.21 trillion and total equity of IDR 2.53 trillion by the end of the corporate action.
As of February 2022, KINO’s treasury stock contained 16,726,100 shares, equivalent to 1.17% of KINO’s total shares of 1,428,571,500 units. DBSSG S/A Nusantara claimed 11.23% of them, followed by Harry Sanusi of 12.61% and PT Kino Investindo of 69.35%. The public shares the remaining 5.46%, each owning less than 5%. (LK/ZH)