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Erajaya to repurchase shares, aiming for 20% of its capital

20 May 2022 12:07

JAKARTA. PT Erajaya Swasembada Tbk (ERAA) arranges the repurchase of shares (buyback) of 20% of its paid-up capital at most, with the minimum requirement of shares outstanding of 7.5% of the company’s paid-up capital. In order to support this buyback, the company has prepared a budget capped at IDR 319 billion.

The money for the buyback will be taken out of its internal cash. “The company believes that the buyback will not affect the financial condition of the company because as of today, the company still possesses sufficient amount of capital to fund its business,” the management reaffirmed in the information disclosure earlier today (20/5).

ERAA claims that the company’s buyback agenda will be carried out gradually, lasting three months in total starting from May 20, 2022, until August 19, 2022. The company has appointed PT CGS-CIMB Sekuritas Indonesia to arrange said buyback. (AM/ZH)

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