JAKARTA – PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) has terminated its buyback period prematurely after its purchase quota have been filled before the end of the buyback period.

Aestika Oryza Gunarto, Corporate Secretary of Bank Rakyat Indonesia, confirmed that BBRI has completed the purchase of 647.38 million shares for IDR 2.9 trillion in total. “The company then ended the buyback earlier on January 26, 2023, from the initial schedule in August 2023,” he explained.

According to Gunarto, the buyback period should have lasted from March 1, 2022, to August 31, 2023, aligning with the decision made during the Annual General Shareholders Meeting on March 1, 2022. The budget for said corporate action has been set to IDR 3 trillion.

It is also revealed that the company has transferred some of its buyback shares and will process them bit by bit, as dictated by applicable law. (LK/ZH)