JAKARTA. PT Delta Dunia Makmur Tbk (DOID), a coal mining company, will extend its buyback period until the next three months.

As stated in the information disclosure in Indonesia Stock Exchange (IDX), the buyback extension period will last from August 1 to October 31, 2023. The buyback will be carried out through stock trading in Indonesia Stock Exchange.

Previously, DOID had prepared budget of USD 45 million to carry out the shares’ buyback. With this amount of money, the company may be able to repurchase up to 20% of the floating shares.

Until July 27, 2023, the remaining budget of DOID that still could be allocated for the buyback amounts to IDR 169.2 billion, equal to USD 11.28 million.

In this buyback, DOID assigns PT BNI Sekuritas as the broker. The repurchased shares will then be listed as treasury shares, for no longer than three years. However, the company may transfer or resell those shares according to the applicable law. (KR/ZH)