JAKARTA – PT Japfa Comfeed Indonesia Tbk (JPFA) plans to carry out a share buyback with a maximum allocation of IDR 470 billion.

With this amount, JPFA aims to repurchase at least 2% of its outstanding shares. However, JPFA's management stated that the number of shares to be absorbed would still consider future market conditions.

"There is no certainty that the company will execute the buyback mandate, either partially or fully," JPFA's management revealed in a disclosure to the Indonesia Stock Exchange (IDX).

JPFA will seek approval from its shareholders regarding the buyback plan. The shareholder meeting is scheduled for April 10, 2025.

According to data from IDNFinancials.com, JPFA already holds 98.9 million treasury shares, acquired through previous buyback actions. This amount represents 0.84% of the company’s total outstanding shares as of December 31, 2024. Meanwhile, Japfa Ltd controls 55.43% of the shares, and public investors hold 43.73%.

If the buyback plan proceeds as intended, JPFA's treasury stock will increase to 333.43 million shares, equivalent to 2.84%.

As of today's trading, JPFA shares rose by 2.48% to IDR 2,070 per share as of 1.37 PM WIB. Since the beginning of the year, the company's share price has increased by more than 10%. (KR/ZH?VA)