JAKARTA. PT PP Presisi Tbk (PPRE), a building construction issuer under the supervision of PT PP (Persero) Tbk (PTPP), has received relaxation to extend the sales period for treasury shares.

Mohammad Arif Iswahyudi, Finance Director of PPRE, said that the transfer of the company's treasury shares was initially scheduled until 30 July 2027. However, with the relaxation of the capital market in accordance with Financial Services Authority Regulation (POJK) 7, the deadline for transferring shares resulting from the company's buyback was extended to 31 March 2029 .

"Regarding the provision of relaxation as referred to above, in principle PPRE will continue to pay attention to and fulfill all required provisions," said Arif, in his official statement.

Please note, the number of PPRE treasury shares to be sold is 108.06 million shares. This is equivalent to 1.06% of PPRE's issued and fully paid-up capital.

According to idnfinancials.com data, PPRE's share price in today's trading opened up 1 point or 1.28% to IDR 79 per share. Assuming this price, PPRE will at least reap fresh funds of up to IDR 8.5 billion from the sale of treasury shares. (KR/LM)