JAKARTA. PT Jaya Real Property Tbk (JRPT) will sell 35 million treasury shares obtained from the buyback to affiliated companies.

Yohannes Henky Wijaya, Deputy President Director of JRPT, conveyed the sale of buyback shares through the Indonesia Stock Exchange (IDX). The transfer of buyback shares will be carried out for 14 days, starting from Thursday (27/7) today.

Previously JRPT had bought back 79.07 million shares, starting from April 2019. Thus the number of buyback shares that will be resold by the company is 44.26% of the total buyback shares.

"The transfer of shares resulting from the buyback will be carried out through PT Indo Premier Sekuritas," said Wijaya, through an information disclosure on the IDX.

The buyer of the JRPT buyback shares is PT Jaya Jasa Niaga (JJN). According to idnfinancials.com data, JJN is a company affiliated with JRPT. The reason is that as much as 97.50% of JJN's shares are controlled by PT Pembangunan Jaya.

Meanwhile, Pembangunan Jaya is also the controlling shareholder of JRPT. The portion of Pembangunan Jaya's share ownership in JRPT is 66.40%. (KR/LM)