JAKARTA – PT Bangun Kosambi Sukses Tbk (CBDK), the property company owned by Sugianto Kusuma (Aguan) and the Salim Group, has announced a plan to repurchase shares (buyback) with an allocated fund of IDR 1 trillion.

“The source of funding for the buyback will come from optimising the company’s internal cash reserves, ensuring that this action does not disrupt the company’s financial stability,” the company stated in a disclosure on Wednesday (26/3).

Based on information from the Indonesia Stock Exchange (IDX), the buyback will be conducted from 27 March to 26 June 2025.

This corporate action will proceed without requiring approval from the General Meeting of Shareholders (GMS), in reference to OJK Letter No. S-17/D.04/2025 concerning Policy on the Repurchase of Shares by Public Companies in Significantly Fluctuating Market Conditions.

However, CBDK’s management stressed that the buyback will be conducted at a fair price, in accordance with OJK Regulation No. 29/2023.

“The company will adhere to the maximum permissible limits in executing the share buyback,” it stated.

This strategic move is expected to stabilise the company’s share price amid fluctuating market conditions and provide flexibility for the company in managing long-term capital through the sale of treasury shares in the future, should additional capital be required. (DK/ZH)