JAKARTA. PT Nusa Konstruksi Enjiniring Tbk (DGIK) extend the shares buyback period to September 2023, setting the budget to IDR 48.34 billion.

Almanda S. Pohan, Corporate Secretary of DGIK, mentioned that the company had previously arranged a shares buyback that lasted three months, starting on march 17, 2023. In the first round of buyback, the company had repurchased 12,802,700 shares.

The allocated funds for this buyback in March clocked up to IDR 50 billion. However, in practice, only IDR 1.66 billion of the total buyback budget was absorbed.

Therefore, the management of DGIK decided to extend the shares buyback, using the remaining allocated budget of IDR 48.34 billion. “This buyback uses up the idle funds of the company, thus not affecting the revenue and financing status of the company,” Pohan added in the official statement.

The second phase of shares buyback of DGIK will be carried out through Indonesia Stock Exchange (IDX). The price will be set lower or equal to the closing price on the previous trading day. (KR/ZH)