JAKARTA - The producer of Sari Roti owned by conglomerate Anthony Salim, PT Nippon Indosari Corpindo Tbk (ROTI) plans to buy back shares or buyback. The share buyback will be carried out from January 21, 2022 to April 20, 2022.
"The estimated nominal value of the shares to be repurchased is a maximum of IDR 374 billion with a maximum number of 220 million shares," explained ROTI's management in an information disclosure quoted on Friday, January 21.
Further disclosed, ROTI limits the share repurchase price to a maximum of IDR 1.700 per share.
The buyback action will not significantly affect the company's revenue and funding costs. Given, the funds used are internal funds originating from operational activities.
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In addition, it does not have an impact on the company's profit. This is because this action does not affect ROTI's revenue performance. In the future, it is hoped that the buyback will stabilize prices in volatile market conditions.
The repurchase of shares also provides flexibility for the company in managing long-term capital, where treasury shares can be sold in the future at an optimal value if the company requires additional capital.
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