JAKARTA - PT Ashmore Asset Management Indonesia Tbk (AMOR) is allocating IDR 2.2 billion to repurchase (buyback) a maximum of 2.2 million shares. This corporate action will be carried out gradually, starting from November 2023.

In the information disclosure quoted Tuesday (10/10), Lydia Toisuta, Corporate Secretary of Ashmore Asset Management Indonesia, mentioned that the buyback will only slightly impact the requirement of working capital. “The allocated budget for the buyback is not material,” Toisuta stated.

Until September 2023, AMOR recorded total shares of 2.22 billion. Ashmore Investment controls 60.0354% of those shares, followed by PT Adikarsa Sarana of 13.0465%, Ronaldus Gandahusada of 6.3%, Aried Cahyadi Wana of 5.4%, FX Eddy Hartanto of 5.634%, Steven Satya Yudha of 0.0099%, public investors (scripless) of 9.183%, and treasury stock of 0.3904%.

AMOR’s equity in June 2023 was recorded at IDR 290.56 billion, shifting down from IDR 309.50 billion seen in the same period in 2022. The operating revenue also shrank from IDR 393.64 billion to IDR 324.64 billion.

The buyback will take place starting from November 17, 2023, until may 16, 2025. The stock price of AMOR at yesterday’s (9/10) closing bell was IDR 985 per share. The volume of traded shares reached 3,300, recorded within 9 transactions worth IDR 3.23 million. Foreign sell was seen at 100 shares, whereas foreign buy remained zero. (LK/ZH)