Baru umumkan rencana buyback siang ini (13/2), saham CNMA langsung melonjak. Berapa alokasi dananya?

JAKARTA – PT Nusantara Sejahtera Raya Tbk (CNMA), operator of the Cinema XXI theatre chain, has announced plans for a share buyback with a budget allocation of IDR 300 billion.

According to a disclosure made to the Indonesia Stock Exchange (IDX) today (13/2), the buyback will not exceed 2.48% of the company’s total issued capital, with a price cap of IDR 270 per share.

“The buyback is being conducted due to the current trading price of the shares, which is considered to not yet reflect the actual value, performance, and prospects of the company,” the management stated in the official release.

Since its debut on the exchange on 2 August 2023, CNMA’s share price has dropped by around 52.2%, closing at IDR 129 per share on Wednesday (12/3), down from IDR 270 per share offered during the IPO.

Despite this, CNMA’s revenue through Q3 2024 increased by 13.2% year-on-year (yoy) to IDR 4.3 trillion, with net profit surging 36.6% yoy to IDR 529.8 billion.

According to CNMA’s projections, following this corporate action, the company’s earnings per share (EPS) will increase from IDR 6.36 to IDR 6.51, based on the financial statements as of September 2024.

However, CNMA must seek approval from its shareholders for this corporate action. The Annual General Meeting of Shareholders (AGMS) is scheduled for 24 March 2025, and the buyback will be executed no later than 12 months after receiving AGMS approval.

Since the buyback plan was announced earlier this afternoon, CNMA’s shares have surged, rising by 31.78% to IDR 171 per share at 13:45 WIB, from IDR 129 per share this morning. (ZH)