JAKARTA – PT Asuransi Multi Artha Guna Tbk (AMAG) has set aside IDR 62.5 billion for a share buyback.

Peggy Wystan, Director of AMAG, stated that the buyback will be carried out within a maximum period of 12 months following the approval of this corporate action.

In a disclosure to the Indonesia Stock Exchange (IDX) on March 26, the company will seek approval at the Annual General Meeting of Shareholders (RUPST) on April 29, 2025.

AMAG’s management mentioned that the number of shares to be repurchased in this buyback is approximately 187.46 million shares. After this buyback, the company will hold around 237.19 million treasury shares, or about 4.74% of the total outstanding shares.

Additionally, AMAG’s management explained that this corporate action is aimed at enhancing liquidity and improving the share price.

According to IDNFinancials.com, AMAG’s share price rose 3.75% to IDR 332 per share as of 9.45 AM WIB today. However, over the last five trading days, the company’s share price has declined by 4.02%. (DH/KR/ZH)