JAKARTA - PT Dian Swastika Sentosa Tbk (DSSA) is allocating IDR 38.52 billion to repurchase 154.11 million units of its shares worth IDR 250 each. The equity was totalled to USD 2.99 billion in worth in December 2022.

Susan Chandra, Corporate Secretary of Dian Swastatika Sentosa, believed that the buyback will not adversely affect the revenue and financing status of the company. “The buyback period will last for three months, starting from June 19 to September 18,” she mentioned in the information disclosure quoted Monday (19/6).

According to Chandra, the money to fund this corporate action originates from the internal cash of the company. Therefore, there will be asset change from cash to treasury stock, as well as an increase in its earnings per share.

The stock price of DSSA in Indonesia Stock Exchange (IDX) has been relatively stable, not moving significantly for the past week. Last week (16/6), the stock price remained unchanged at IDR 37,300 per share.

As of May 2023, the company recorded 770.55 million shares, 59.9% of which belonged to PT Sinar Mas Tunggal, leaving 40.1% to public investors. (LK/ZH)