JAKARTA. PT Multitrend Indo Tbk (BABY), a retailer of several child and infant products’ brands, will issue a sale of shares gained from a buyback or treasury stock sale of 23.3 million shares.

Nauli Mashita Dewi, Corporate Secretary of BABY, mentioned that the treasury stock sale is scheduled to take place next week. “On March 8, 2024, transferred to Blooming Years Pte. Ltd. as the controlling shareholder of the company,” she explained in the official statement.

Further, Dewi said that the selling price of the treasury stock will not be lower than the closing price in the Indonesia Stock Exchange (IDX) 1 day before the sale. “Or equal to IDR 266 per share,” she added.

With said price, BABY will potentially rake in IDR 6.19 billion of fresh funds from this treasury stock sale. In this corporate action, the company has assigned PT UOB Kay Hian Sekuritas as the broker.

According to IDNFinancials data, 76.99% of BABY was still controlled by Blooming Years as of September 30, 2023. Public investors claim 20.01% of the shares, leaving the remaining shares to treasury stock. (KR/ZH)