Again, Adaro Energy extends the buyback period to September
JAKARTA. PT Adaro Energy Indonesia Tbk (ADRO) yet again pushes back the end date of the buyback to another three months, concluding it on September 19, 2022.
Mahardika Putranto, Corporate Secretary of ADRO, said that the buyback will not affect the financial performance of the company negatively. “As the current profit and cash flow of the company is more than adequate,” he claimed in the information disclosure in Indonesia Stock Exchange (IDX).
On the same occasion, Putranto also said that the buyback will use a normal pricing rate. The buyback transaction will also take place in IDX through the regular market.
“The company has assigned one security company to arrange the shares buyback of ADRO,” Putranto added.
As mentioned by idnfinancials.com earlier, ADRO has prepared a budget of up to IDR 4 trillion for this corporate action since September 2021. This buyback had been extended twice prior to this postponement. (KR/ZH)