Kalbe Farma Owned By Conglomerate Boenjamin Setiawan Disburses Rp250 Billion For Share Buyback
JAKARTA - PT Kalbe Farma Tbk (KLBF) plans to buy back or buy back shares of a maximum of 250 million shares. The estimated nominal value of the shares to be repurchased is a maximum of Rp250 billion.
The pharmaceutical company owned by the conglomerate Boenjamin Setiawan will hold a buyback in the period from August 20, 2021, to November 19, 2021.
"Kalbe Farma limits the share purchase price to a maximum of Rp. 1,200 per share," said Kalbe Farma President Director Vidjongtius in information disclosure on the Indonesia Stock Exchange website, quoted Monday, August 23.
Meanwhile, Kalbe Farma has to pay 0.11 percent of the transaction value for service fees for buying shares on the Indonesia Stock Exchange (IDX) through a securities brokerage company.
Furthermore, Vidjongtius explained that KLBF has sufficient working capital and cash flow to carry out the buyback plan.
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"So the company's directors believe that the implementation of the share repurchase plan will not significantly affect the company's revenue," he added.
Vidjongtius said that the buyback plan will have an impact on earnings per share, although not significantly. It is hoped that the steps taken by KLBF can stabilize stock prices in fluctuating market conditions.
In addition, it provides flexibility for Kalbe Farma in managing long-term capital. This is because treasury shares can be sold in the future at an optimal value if the company requires additional capital.