JAKARTA – PT Matahari Department Store Tbk (LPPF) has allocated IDR 150 billion for a share buyback of Series C shares. This plan will be executed within 12 months following shareholder approval.

Susanto, LPPF's Corporate Secretary, stated that the buyback will cover a maximum of 10% of the company's issued and paid-up capital. "This plan will be carried out after receiving approval from the Annual General Meeting of Shareholders (AGMS) on 10 April 2025," he said in a disclosure on Tuesday (4/3).

He explained that this corporate action is part of the company's efforts to enhance shareholder value. The buyback will provide significant flexibility for the company in managing its capital to achieve a more efficient capital structure.

As of January 2025, the company recorded 2.25 billion shares, with 42.49% held by controlling shareholders and 57.51% by non-controlling shareholders. The free float shares reach 48.16%, with 14,450 shareholders in total. (LK)