JAKARTA. PT Indosat Tbk (ISAT), a telecommunication service company controlled by Ooredoo Hutchison Asia Pte. Ltd., will sell the shares repurchased in a buyback.

Reski Damayanti, Corporate Secretary of ISAT, mentioned that the number of treasury shares to be sold reaches 20,900 shares, which are equal to 0.0003% of total outstanding shares.

ISAT will assign PT Mandiri Sekuritas as a stock exchange member that will execute the treasury shares’ sale. The sale will take place at least 14 days, starting from Tuesday (27/2).

“The shares’ selling price cannot be lower than the average buyback price,” added Damayanti in the information disclosure.

According to IDNFinancials data, ISAT’s stock price has gone up 13.60% or 1,257 points to IDR 10,650 per share since the beginning of 2024. Last Tuesday (27/7), ISAT’s price stagnated after recording IDR 10,825 per share at the second session.

ISAT scored total assets of IDR 114.72 trillion at the end of 2023, with cash and cash equivalent of IDR 5.19 trillion. Meanwhile, the total equity clocked up to IDR 33.71 trillion. (KR/ZH)