JAKARTA. PT Japfa Comfeed Tbk (JPFA) will carry out a share buyback with a prepared budget of IDR 350 billion.

JPFA's management said that the number of shares to be bought back by the company was 1.5% of the issued and paid-up capital. "The buyback share price will be determined based on the provisions stipulated in POJK 30/2017," wrote JPFA Management, in its official statement.

However, beforehand, JPFA would seek approval from the Extraordinary General Meeting of Shareholders (EGMS) to carry out a share buyback. After obtaining approval, the share buyback will be held on April 6, 2023.

According to data from idnfinancials.com, JPFA currently owns 106.27 million treasury shares. With the addition of 1.5% shares obtained from the share buyback, the company's total treasury shares will increase to 282.17 million shares or the equivalent of 2.41% of the issued and paid-up capital.

In today's trading, JPFA's share price closed at IDR 1,310 per share. In the past year, the company's share price has fallen 16.83% or 265 points. (KR/LM)