JAKARTA – PT Citra Marga Nusaphala Persada Tbk (CMNP), a toll road issuer owned by Jusuf Hamka, has increased its share buyback allocation to IDR 902.1 billion, up from IDR 815.61 billion.

This corporate action will take place from May 2 to June 26, 2025.

CMNP Corporate Secretary, Hasyim, stated that the maximum number of shares to be repurchased is 601.4 million, equivalent to 10% of the company's paid-up capital.

In an official statement on Tuesday (April 15), Hasyim confirmed that the share buyback funds will come from CMNP’s internal cash reserves.

According to Hasyim, this corporate action will not have a material impact on the company's financial condition or profitability. "The company has sufficient working capital and cash flow, enabling it to fund this buyback without disrupting operations."

The CMNP share buyback, Hasyim explained, is a response to recent market volatility. In addition to stabilizing stock prices, the buyback is expected to provide the company with greater flexibility in managing its long-term capital structure.

This corporate action is also supported by the Financial Services Authority (OJK), which, since March 19, 2025, has allowed share buybacks without shareholder meeting (GMS) approval.

On Tuesday (April 15), CMNP's stock surged 17.10% (265 points) to IDR 1,815 per share as of 11:15 AM WIB. Since the beginning of the year, its stock price has soared 26.92%. (EF/KR/LM)