JAKARTA - PT Bank CIMB Niaga Tbk (BNGA) raises fresh funds of IDR 4.34 billion from divesting 2.4 million shares gained from a buyback. This transaction took place last week (1/2), with a price of IDR 1,760 per share.

Susiana Tanto, Corporate Affairs Head of CIMB Niaga, said that the accumulated sales of buyback shares reached 175.34 million shares, raking in IDR 302.08 billion of fresh funds. “The number of shares gained from a buyback that have yet to be sold is 13.52 million,” she mentioned in the information disclosure quoted Monday (5/2).

On December 31, 2023, this bank booked IDR 13.30 billion from selling 7.81 million shares for IDR 1,701 each.

BNGA is known to have repurchase a maximum of 208.21 million shares regarding its management and employee stock option plan, which will take effect through an employee share grant and option grant to acquire shares for the management and employee alike.

On February 22, 2021, it allocated 10.23 million shares to 7,910 recipients (directors and employees). On April 10, 2023, the Annual General Meeting of Shareholders approved the transfer of 9.10 million shares from the treasury as a remuneration to material risk-takers. Therefore, the treasury still contains 188.87 million shares. (LK/ZH)