ADRO - PT. Adaro Energy Indonesia Tbk

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JAKARTA - PT Adaro Energy Indonesia Tbk (ADRO) has allocated a maximum of IDR 4 trillion to repurchase its shares (buyback). This plan will take place no later than 12 months after gaining approval from its shareholders on May 15, 2024.

In the information disclosure quoted Tuesday (16/4), this corporate action will lead to decreased total assets to IDR 10.22 trillion from the initial IDR 10.47 trillion, as well as its equity, that will shrink to IDR 7.15 trillion from IDR 7.40 trillion.

The source of fund for this buyback came from the company’s internal cash. As of December 31, 2023, ADRO secured current year’s net profit of IDR 1.85 trillion. The buyback will then take place until May 16, 2025.

As of March 31, 2024, ADRO’s total listed shares were 31.98 billion. The shareholder structure consists of PT Adro Strategic of 43.91%, affiliated party of 7.47%, Garibaldi Thohir of 6.18%, Edwin Soeryadjaja 3.29%, Theodore Permadi 2.54%, Arini Saraswaty 0.25%, Christian Ariano 0.05%, Chia Ah Hoo 0.03%, Julius Aslan 0.03%, the public 32.40%, and treasury stock 3.84%.

Two weeks ago, on April 5, ADRO was seen closed at IDR 2,700 per share. The lowest and the highest price were seen at IDR 2,670 and IDR 2,720 per share. The frequency of the transaction reached 4,031, involving 15.32 million shares worth IDR 41.37 billion. (LK/ZH)