JAKARTA - PT Bank CIMB Niaga Tbk (BNGA) will divest 188,878,782 units of its treasury shares starting from mid-September to December 2023. Yesterday (5/9), the shares were traded with the highest price at IDR 1,700 per share.

In the information disclosure quoted Wednesday (6/9), Susiana Tanto, Corporate Affairs Head of CIMB Niaga, said that the sale of treasury shares through regular market is set to take place from September 20 to December 21, 2023. “The company plans not to offer these shares to affiliates and controlling shareholder,” she added.

These offered treasury shares are what remains from 208.21 million shares from the buyback held in 2018. These shares have been allocated for employee share grant that was concluded on February 22, 2021, distributing 10.23 million shares to 7,910 directors and commissioners, while 9.10 million shares distributed as remuneration.

PT Mandiri Sekuritas is assigned as the arranger of the treasury stock sale in negotiation market. The stock is set according the average closing price of the last 90 days, or higher than the price set prior to the sale day. Assuming that it will be set to IDR 1,700 per share, the treasury stock sale value might reach IDR 321.09 billion. (LK/ZH)