JAKARTA. PT Siloam International Hospitals Tbk (SILO), a publicly listed healthcare provider under Lippo Group, will conduct a shares buyback with a maximum budget of IDR 50 billion. 

In order to realise this corporate action, SILO will ask for approval during the Annual General Shareholders Meeting that will be held on May 25, 2023. "The buyback period starts from May 25, 2023, until May 24, 2024," the management of SILO added in the official statement.

With this amount of budget, the estimated number of repurchased shares will clock up to 39,018,375 units. Those shares will then be utilised in SILO's long-term incentive program that is through the Management and Employee Stock Option Plan (MESOP) program.

"The shares buyback will be carried out through the stock exchange, via one stock member or a security company," the management added.

According to IDNFinancials data, SILO's stock price was weakened 2.24% or 35 points down during yesterday's (23/5) closing bell and reached IDR 1.525 per share. However, in the past year, SILO's stock price have actually grown 38.64% or 425 points higher. (KR/ZH)