JAKARTA. PT Electronic City Indonesia Tbk (ECII) has sold 46.8 million treasury shares at an average price of IDR 450 per share.

Wiradi, Director of ECII, said the treasury share sale transaction was carried out on August 21, 2023. From the sale of these shares, the company pocketed fresh funds of IDR 21.49 billion.

Even so, said Wiradi, ECII posted a loss of IDR 11.49 billion from the sale of treasury shares.

For the record, ECII appointed PT KGI Sekuritas as a securities broker. The number of shares from the buy back that have not been transferred is 119,451,195, said Wiradi, in an information disclosure on the Indonesia Stock Exchange (IDX).

According to data from idnfinancials.com, ECII's share price in today's trading closed up 13.33% or 48 points to a level of IDR 408 per share. In the last 5 trading days, the company's share price has also increased by 11.48% or 42%. (KR/LM