JAKARTA. PT Garudafood Putra Putri Jaya Tbk (GOOD), a processed food producer operating since 1994, will allocate IDR 20 billion to conduct a share buyback.

GOOD's management said that the number of shares to be bought back is 0.13% or equivalent to 46.39 million shares. The buyback will be carried out in stages within a maximum period of 12 months, since the company received approval from shareholders.

The agenda for the Extraordinary General Meeting of Shareholders (EGMS) is scheduled for April 30, 2024. The results of the meeting will be announced on May 3, 2024.

For the record, the buyback of GOOD shares will be carried out through transactions inside and outside the Indonesia Stock Exchange (IDX). "The company will appoint PT Indo Premier Sekuritas as an exchange member to repurchase the company's shares through the stock exchange," wrote GOOD Management, in its official statement.

According to idnfinancials.com data, GOOD's share price in today's trading was stagnant at the level of IDR 428 per share. Meanwhile, since the beginning of the year, the company's share price has decreased by 18% or 4.04%. (KR/LM)