JAKARTA - PT Kalbe Farma Tbk plans to buy back KLBF shares. The plan is that the action will start today (Wednesday, February 9) until May 8, 2022.
Kalbe's President Director, Vidjongtius, estimates that the fund for the buyback will reach Rp. 1 trillion. This figure is equivalent to 588 million shares.
The pharmaceutical company owned by the conglomerate Boenjamin Setiawan will use internal funds and loans as the main source of financing in holding the buyback action. "The company estimates the impact of interest costs from loans at around Rp29 billion per year," said Vidjongtius.
Even so, Vidjongtius asserted, the company will limit the share purchase price to IDR 1,700 per share. In today's trading, KLBF shares are still perched at the level of Rp1,645 per share.
By holding a buyback action, Vidjongtius hopes that Kalbe can stabilize KLBF's share price in a volatile market. So that it can provide confidence to investors on the fundamental value of KLBF shares.
"We also provide flexibility for the company in managing long-term capital, where treasury shares can be sold in the future at an optimal value if additional capital is needed," said Vidjongtius.
Meanwhile, taking into account the decline in earnings on a pro rata basis, Kalbe estimates that its earnings per share for the 9 month 2021 period will be IDR 48.3 per share compared to earnings per share which was recorded at IDR 48.8 per share.
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