JAKARTA. PT Telkom Indonesia (Persero) Tbk (TLKM) will hold a share buyback with a purchase price of IDR 3,921 per share.

This plan is in accordance with the results of the Annual General Meeting of Shareholders (GMS), which was held by TLKM on 30 May 2023. "On the agenda there are shareholders who do not agree with the plan to separate the IndiHome business segment," said Heri Supriadi, Director of Finance and Management and Risk of TLKM, through an information disclosure.

TLKM offers to buy shares of investors who do not agree with IndiHome's spin off plan. Investors can submit a share buyback request on 5-6 June 2023.

Furthermore, payment for the shares buyback will be carried out as soon as 3 working days after the issuance of the ratification of the Menkumham decision letter regarding the separation of the IndiHome business segment. "The estimated effective separation date is July 1, 2023," said Supriadi.

Supriadi did not mention how many TLKM investors disagreed with IndiHome's spin off plan. However, according to idnfinancials.com data, currently 52.09% of TLKM's shares are controlled by the Government of Indonesia. The remainder is owned by a public investor, the Bank of New York Mellon Corporation, and a number of members of the board of directors and commissioners of the company. (KR/LM)