JAKARTA. PT Bank Mestika Dharma Tbk (BBMD) announces the plan of the transfer of 63.02 million treasury shares in Indonesia Stock Exchange (IDX).

The management of BBMD mentioned that the entire treasury stock is secured from the buyback held from April 17, 2020, until June 12, 2020. With the average buying price of IDR 1,095 per share, the company spent IDR 69.02 billion for this buyback.

“The transaction will be led by one stock exchange member, and the company has assigned Ciptadana Sekuritas as the arranger,” said the management of BBMD in the information disclosure.

After divesting treasury shares, BBMD will utilise the proceeds for extra working capital. “The transfer of shares will not negatively affect the company’s performance,” added the management of BBMD.

At today’s (26/9) trading session, BBMD opened 1.95% stronger or 40 points higher at IDR 2,090 at 9.20 AM WIB. Since the beginning of this year, the stock price has increased 10% or 190 points higher. (KR/ZH)