JAKARTA - PT Alkindo Naratama Tbk (ALDO) has allocated IDR 10 billion to buy back shares. This corporate action will last for three months, starting from 8 April 2025.

Kuswara, Director of ALDO, said that the buyback aims to maintain the fair price of the company's shares. ‘The buyback will be carried out at a price lower than or equal to the closing price of the previous trade,’ he said in an information disclosure on Friday (28/3).

The buyback of ALDO shares will take place through trading on the regular and negotiation markets of the Indonesia Stock Exchange (IDX). This plan is expected to provide share price stability, which provides added value for shareholders and potential investors.

ALDO's share price rose 2% to IDR 498 at the close of trading yesterday (27/3). The transaction volume was recorded at 169,200 shares in 35 trades, with a total transaction value of IDR83.70 million.

Buy-backs do not require approval from the General Meeting of Shareholders (GMS), because in market conditions fluctuate significantly, referring to the latest rules of the Financial Services Authority (OJK). (LK/LM)