JAKARTA – Palm oil agro-industrial company PT Mahkota Group Tbk (MGRO) has allocated IDR 20 billion for a share buyback.

Usli, President Director of MGRO, stated that the purpose of the share buyback is to maintain a balance between market conditions and the company’s fundamentals. He also mentioned that this corporate action will not significantly affect the company’s operations.

“In accordance with OJK Regulation Number 13 of 2023, the number of shares we will buy back will not exceed 20% of the paid-up capital,” he added.

The buyback period for MGRO shares will take place over three months, starting from March 21 until June 20, 2025.

“The company has appointed PT Panin Sekuritas Tbk (PANS) as the intermediary securities firm to assist in executing the transaction plan,” Usli said.

After the share buyback, MGRO’s total assets and equity will each decrease by IDR 20 billion, bringing the totals to IDR 2.73 trillion and IDR 421.77 billion, respectively. (DH/KR/ZH)