JAKARTA - PT Selaras Citra Nusantara Perkasa Tbk (SCNP) is budgeting IDR 50 billion for a buyback of a maximum 250 million shares or 10% of its total issued and paid-up capital.

In the information disclosure quoted Wednesday (20/3), this corporate action is said to last a year, starting from April 24, 2024, to April 23, 2025. This plan had been approved by shareholders through its Annual General Meeting of Shareholders (AGMS).

The company has assigned PT Victoria Sekuritas Indonesia as the lead arranger of the buyback via Indonesia Stock Exchange (IDX).

As of February 2024, the shareholder structure of SCNP consists of Albula Investment of 15.55%, Freddy Nursalim, Hendrik Nursalim, Xaverius Nursalim, Richard Nursalim, and Willy Nursalim of 1.66% each, PT Sena Dwimakmur of 45%, PT Generasi Dua Sukses of 26.66%, and the public of 4.45%.

The controlling party’s portion was recorded at 45%, and non-controllers claim another 55%. The ultimate beneficiary of the shares is the Nursalims.

Yesterday (19/3), SCNP was closed at IDR 144 per share, its lowest transaction price. Meanwhile, the highest transaction price arrived at IDR 145 per share. (LK/ZH)