JAKARTA. PT Garudafood Putra Putri Jaya Tbk (GOOD) will sell 364.48 million treasury shares.

I Made Astawa, Corporate Secretary of GOOD, said that all of the shares were obtained from a share buyback in 2022. "The company intends to sell/transfer the shares resulting from the buyback which will be carried out outside the stock exchange through a negotiating market," said Astawa, in an official statement.

The party that will receive or buy GOOD's treasury shares is Hormel Foods International Corporation (HFIC). For the record, HFIC is the main shareholder of the company. The execution of the sale of shares will be carried out on April 12, 2023.

In accordance with the Financial Services Authority Regulation (POJK) 30/2017, the selling price of GOOD treasury shares cannot be lower than the closing price of daily trading on the exchange.

In today's trading, GOOD's share price closed up 0.85% or 4 points to a level of IDR 476 per share. However, in the last year, GOOD's share price fell 19.32% or 114 points. (KR/LM)