BTPN to sell off 92.46 million repurchased shares
JAKARTA - PT Bank BTPN Tbk (BTPN) will extend the period for the sales of 92.46 million shares starting from Friday (17/3) until May 23, 2024. The stock price of BTPN during yesterday’s (16/3) closing bell was IDR 2,400 per share.
Quoted from information disclosure, Henoch Munandar, Corporate Secretary of Bank BTPN, mentioned that the decision to sell repurchased shares in the buyback had been approved during the Annual General Shareholders Meeting on April 22, 2021. The company has assigned PT Mandiri Sekuritas to arrange this stock transfer.
The selling price is set to the average of closing price within the past 90 days of transaction in the stock exchange prior to the sale date. In addition, it cannot go lower than the closing price on the day before the sale date.
Yesterday (16/3), BTPN’s stock price closed at IDR 2,400 per share. It peaked at IDR 2,460 per share. Therefore, with this level of price, BTPN will secure a total transaction value of IDR 227.45 billion.
Prior to this, the company had transferred 2.63 million units of shares gained from the buyback, a part of which originates from variable remuneration for material risk-takers. The shares were sold starting from October 14, 2021. (LK/ZH)