Panin Sekuritas sets aside IDR 50 billion for buyback
JAKARTA. PT Panin Sekuritas Tbk (PANS) will hold another shares buyback with a total budget of IDR 50 billion,
Abiding by the regulator’s provisions, the maximum amount of repurchased shares by PANS is capped at 20% of the paid-up capital. However, the company will still leave at least 7.5% of its paid-up capital untouched to comply with the free float requirements.
The buyback will be done systematically for the next three months at the longest, starting from this Friday (30/9). The buyback will take place in Indonesia Stock Exchange (IDX).
According to idnfinancials.com data, PANS recorded total assets of IDR 2.21 trillion and total equity of IDR 1.59 trillion at the end of June 2022. After the shares buyback, both assets and equity are estimated to decline by 2.26% and 3.15%, respectively.
As of now, PT Patria Nusa Adamas controls 30% of PANS’s shares. PT Bank Pan Indonesia (PNBN) owns another 29%, while public investors share the remaining 40.25%. Lastly, 0.75% of the shares are stored as treasury stock. (KR/ZH)