JAKARTA. PT PP (Persero) Tbk (PTPP), a state-owned construction and investment company, has extended the term of its treasury stock sale.

Agus Purbianto, Director of Finance and Management of PTPP, mentioned that the treasury stock sale has begun since October 9, 2023. At first, the treasury stock sale is scheduled to last until December 31, 2023.

“The company will extend the period of this stock sale, whilst still paying attention to the regulation stated in Article 15 of POJK 30/2017,” said Purbianto in the official disclosure.

Since today’s opening bell (29/12), PTPP has reported 2.69% or 12 points decline in its stock price to IDR 434 per share. Moreover, looking from the beginning of this year, the company has recorded 39.72% or 286 points drop in its price.

As of September 30, 2023, 51% of series B of PTPP were under the control of the Indonesian government. Another 0.03% belong to Cooperative Unit of Shareholding Employee of PTPP, leaving 48.73% to retail investors. The remaining 0.23% is listed as treasury stock. (KR/ZH)