JAKARTA – PT Barito Pacific Tbk (BRPT) commenced its IDR 500 billion share buyback period earlier this week (24/3), following the relaxation of buyback rules without requiring the approval of a General Meeting of Shareholders (GMS).

BRPT management stated that the buyback will cover a maximum of 0.7% of the company’s outstanding shares and will continue until June 23, 2025.

"The buyback will be fully funded by internal cash reserves, which have been allocated without disrupting the company's operations," management said in an official statement on Monday (24/3).

BRPT will allocate the buyback funds gradually, including transaction fees, brokerage fees, and other related expenses. Additionally, the company will adhere to the maximum limits set by Article 8 of POJK 13/2023 and maintain the required free float of shares.

"This buyback will not have a significant negative impact on the company’s performance and income, as available retained earnings and cash flow are sufficient to meet the buyback funding needs," the management added.

According to IDNFinancials.com, BRPT recorded a 116.28% increase in net profit in 2024, reaching USD 56.48 million, despite a 13.55% decline in revenue to USD 2.38 billion in 2024. (DK/KR/ZH)