JAKARTA. PT Multitrend Indo Tbk (BABY), a baby and children product retail company, has divested 4,037,620 shares in treasury stock to its controller, Blooming Years.

Nauli Mashita Dewi, Corporate Secretary of BABY, said that those treasury shares were sold on April 3, 2024. With an average selling price of IDR 266 each, the company scored IDR 1.07 billion of fresh funds from this treasury shares’ sale.

Further, Dewi said that as of now, the treasury shares that have been divested by the company amount to 27.34 million shares. The total funds secured by the company has now reached IDR 7.25 billion.

“The number of idle shares gained from buyback reaches 52,659,694,” added Dewi in the information disclosure in Indonesia Stock Exchange (IDX).

Based on IDNFinancials data, BABY’s stock price has slipped 10 points lower or 6.94% to IDR 134 per share within the past week of trading. The price has also declined 44 points or 24.72% since the beginning of this year, or down 156 points or 53.79% within the past year. (KR/ZH)