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Matahari to conduct another buyback, preparing IDR 1 trillion

06 June 2022 12:06

JAKARTA. PT Matahari Department Store Tbk (LPPF), a retail company under Lippo Group, will launch another buyback with a budget capped at IDR 1 trillion.

This plan has been approved during the Extraordinary General Shareholders Meeting held on Monday (6/6). The shareholders in this meeting also sets the buyback limit to 10% of its current issued and paid-up capital of the company, which is equivalent to 262.61 million shares.

“The buyback price will be set referring to the applicable law,” the management of LPPF stated in the official announcement.

The buyback period is scheduled to be carried out within 18 months after the company concluded its Extraordinary General Shareholders Meeting. The mechanism regarding this corporate action will be further disclosed in the near future.

LPPF is known to have conducted another buyback in March 2022. The total budget prepared for this recent corporate action was estimated to reach IDR 2.09 trillion. (KR/ZH)

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