JAKARTA. PT Kalbe Farma Tbk (KLBF) is scheduled to repurchase its shares, or a buyback, from today (20/5) until three months later, August 19, 2022. The budget allocation has been set to IDR 500 billion.
Vidjongtius, President Director of Kalbe Farma, in the information disclosure today (20/5), said that with the money for the buyback clocking up to IDR 500 billion, the company is estimated to repurchase 312.5 million shares, assuming that the buyback price is capped at IDR 1,700 per share.
The buyback is expected to provide a stability for the company in managing its long-term capital. Vidjongtius knows that the repurchased shares, which will be stored as a treasury stock, may be exchanged for a higher value in the future when the company needs a capital increase.
Vidjongtius also mentioned that the company plans to request credits to fund this buyback. The interest in this action is estimated to take up IDR 29 billion per year. (AM/ZH)