JAKARTA - PT Avia Avian Tbk (AVIA) allocates IDR 1 trillion to repurchase a maximum of 1.42 billion shares (buyback) or 2.3% of its total issued and paid-up capital of the company. Said allocation is equal to 10% of total equity of AVIA as of September 2023, worth IDR 10.09 trillion.

Kurni Hadi Sinanto, Director of AVIA, mentioned that said plan had been approved by shareholders during the Extraordinary General Meeting of Shareholders (EGMS) yesterday (7/12). “EGMS met the quorum, attended by 96.8925% of total shares with valid votes issued by the company,” he said in the minutes of EGMS quoted today (8/12).

AVIA’s shareholders have agreed upon buyback, which will take place gradually no later than 18 months since the approval was obtained at EGMS.

In November 2023, AVIA’s shares were recorded at 61.95 billion, 36.6% of which belonged to PT Tancorp Surya Sentosa. PT Wahana Lancar Rejeki owned another 32.49%, followed by Archipelago Investment of 6.3%, Robert Christian of 2.3%, Kurnia Hadi Sinanto, Angelica Tanisia Jozar, and Wijono Tanoko of 0% each, as well as public investors (script) of 3.36% and scripless of 18.95%.

As of September 2023, the company reported total assets of IDR 11.34 trillion, higher than IDR 10.79 trillion seen in December 2022. Meanwhile, cash and cash equivalent were at IDR 3.38 trillion, increasing from IDR 2.17 trillion. Total liabilities were at IDR 1.25 trillion, also growing from IDR 1.21 trillion in December 2022. (LK/ZH)