JAKARTA - PT Nippon Indosari Corpindo Tbk (ROTI) is allocating IDR 149 billion for repurchase (buyback) of a maximum 80 million of its shares. As of now, treasury stock of ROTI is reported reaching 7.7% of its issued and paid-up capital of 6.18 billion shares.

Ida Apulia Simatupang, Director of ROTI, mentioned that the buyback is scheduled to last one year, starting from August 6, 2024, to August 5, 2025. “The buyback will not lead to revenue decline, and the funds allocated for this shares buyback comes from internal cash of the company,” she clarified in the information disclosure quoted today (28/6).

It is mentioned that the buyback price is limited to a maximum of IDR 1,700 per share. PT BCA Sekuritas is assigned as the security company leading this buyback.

ROTI’s shareholders now consist of PT Indoritel of 25.77%, Bonlight Investment of 20.79%, Pasco Shikishima of 8.5%, Demeter Indo of 22.16%, Lief Holdings of 6.05%, and the public of 8.94%.

The ultimate beneficiaries of the shares are known to consist of The PY Family, Hannwell Group Limited, Antoni Salim, PT Megah Eraharja, Kohlberg Kravis Roberts & Co.LP, and Wendy Yap.

At today’s (28/6) morning session, ROTI was seen reaching IDR 1,000 per share, up IDR 15 from last closing price (27/6) of IDR 985 per share. (LK/ZH)