JAKARTA - PT Champion Pacific Indonesia Tbk (IGAR) has allocated a budget of IDR 22.63 billion to buy back a maximum of 50 million shares. This corporate action plan will be held in the next three months, starting from 27/7 to 26/10.

In the disclosure of information quoted on Wednesday (26/7), Antonius Muhartoyo, President Director of IGAR conveyed the source of funds for the buyback from the company's internal cash. "The company has appointed PT Ina Sekuritas Indonesia to buy back shares during the purchase period," he said.

As of June 2023, the number of IGAR shares was recorded at 972.20 million, owned by, among others, PT Kingsford Holdings 79.42%, PT Kalbe Farma Tbk (KBLF) 5.4%, and the public 15.18%.

The maximum number of shares to be purchased by this issuer is 5.14% of the total IGAR shares. The number of outstanding shares decreased from 972.20 billion to 922.20 billion shares after the buyback.

As of March 2023, total assets of IDR 893.19 billion will decrease to IDR 870.56 billion and total equity of IDR 810.17 billion, decreasing to IDR 787.54 billion after the buyback. Earnings per share increased from IDR 16.56 billion from IDR 17.45 billion.

In the past week, the issuer's share price movement has been relatively slow. Yesterday (26/7), IGAR shares closed at IDR 424, down IDR 6 from the previous closing price. The issuer's share price touched the highest of IDR 432 per share. The volume of shares traded was 74,000 in 50 transactions worth IDR 31.53 million. (LK/LM)