JAKARTA - PT Indocement Tunggal Prakarsa Tbk (INTP) has concluded its shares buyback program, spending IDR 565.05 billion through the process.

In this corporate action, the company managed to repurchase 81.09 million shares for IDR 6.967 on average each. The buyback is equal to 2.20% of its total shares listed on Indonesia Stock Exchange (IDX) from May 15 to December 31, 2024.

Dani Handajani, Corporate Secretary of Indocement, confirmed that the corporate action had been carried out according to the regulation stated in POJK No.29/2023 and the approval from Extraordinary General Meeting of Shareholders.

“Therefore, the company has concluded the shares buyback as stipulated in the applicable regulations,” Handajani added.

As is mentioned, the biggest buyback took place on May 30, 2024, in which the company re-acquires 10.57 million shares for IDR 6,474 each, totalling IDR 68.44 billion.

Then, the second biggest buyback was recorded on June 25, 2024, with 6.3 million shares, bought at IDR 7,273 per share worth IDR 45.86 billion in total.

On the other hand, the scantest buyback activity was reported on June 21, 2024, with total 2,300 shares bought at IDR 7,300 each, thus totalling IDR 16.79 million.

Out of total allocated budget, there was still IDR 329.94 billion remaining. This will likely be allocated to support financial and operational strategies in the future.

With the buyback concluded, Indocement expects to maintain shareholder value, as well as maintaining the price stability in the stock exchange. (DK/ZH)