JAKARTA. PT Indonesia Kendaraan Terminal Tbk (IPCC) will hold a share buyback with a budget of IDR 116.93 billion.

To carry out this corporate action, IPCC received approval from its shareholders in June 2024. The portion of shares that will be repurchased by the company does not exceed 10% of the issued and fully paid capital.

IPCC management said that the share buyback action was carried out to return the company's current share price to the price at the start of the Initial Public Offering (IPO). It is also hoped that the share buyback will give investors confidence in the value of the company's shares.

The source of funds that will be used by the IPCC for this corporate action comes from internal cash.

Furthermore, the shares resulting from the buyback will be recorded as treasury shares, in accordance with applicable regulations. The share buyback will take place no later than 12 months after approval from shareholders and the Financial Services Authority (OJK).

According to idnfinancials.com data, the IPCC share price is currently at IDR 670 per share, as of 14.54 WIB. Since the start of the IPO, the company's share price has fallen 975 points or 59.27%. (KR/LM)