JAKARTA. PT Champion Pacific Indonesia Tbk (IGAR), a company in management consultancy industry, announces its plan to repurchase its shares (buyback).

In its official statement, the management of IGAR mentioned that the number of shares that will be repurchased by the company is 50 million. They are equal to 5.14% of total issued and paid-up capital of the company.

“The maximum allocated budget is IDR 22.64 billion,” said the management of IGAR.

However, the company will firstly ask for approval from the Extraordinary General Meeting of Shareholders to conduct this buyback. The meeting is scheduled to take place on December 15, 2023.

“The buyback is one of the company’s strategies to increase liquidity and stock performance,” added the management of IGAR further.

For the record, IGAR’s buyback will be carried out through trading session in Indonesia Stock Exchange (IDX). The company has assigned PT Ina Sekuritas Indonesia as its broker. (KR/ZH)