JAKARTA – PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ), owned by conglomerate Sabana Prawirawidjaja, is set to carry out a share buyback, with a maximum allocation of IDR 1.67 trillion.

This corporate action follows the share buyback policy that does not require the approval of a General Meeting of Shareholders (GMS), as regulated by the Financial Services Authority (OJK).

“The buyback is planned for up to 10% of paid-up capital, with funds amounting to IDR 1.67 trillion,” said ULTJ management in an official statement on Friday (21/3).

ULTJ will use its internal funds to carry out the share buyback. “ULTJ is recorded as having cash and cash equivalents of IDR 2.43 trillion, and retained earnings of IDR 6.64 trillion as of 2024,” management revealed.

The management views the share buyback as an effort to maintain stock market stability, increase shareholder value, and improve stock performance.
“The company aims to stabilise the share price so it better reflects the value and performance of the company,” added management.

The share buyback will take place from March 24 to June 23, 2025. The repurchased shares will be held as treasury shares for a maximum of three years, in accordance with OJK Regulation 29/2023. (DK/KR/ZH)