This Media Company Owned By Conglomerate Eddy Kusnadi Sariaatmadja Completes Buyback Of 14.43 Percent Shares

Conglomerate Eddy Kusnadi Sariaatmadja. (Photo: Doc. Forbes)

JAKARTA - PT Surya Citra Media Tbk (SCMA) announced its corporate action in the capital market. The media company, which owns the private television station Indosiar and SCTV, announced that it has completed its share buyback.

Surya Citra Media's Corporate Secretary, Gilang Iskandar, said this was in connection with the plan to repurchase shares in market conditions that fluctuated significantly and referred to the latest stock market conditions which have recovered.

This company owned by conglomerate Eddy Kusnadi Sariaatmadja sees an indication of the strengthening of the Jakarta Composite Index (IHSG), which has reached a position of more than 6,200 in the last few days.

"We hereby inform you that the company will stop the buyback of SCMA shares starting March 10, 2021," said Gilang Iskandar, quoted from the disclosure of information on the Indonesia Stock Exchange website, Friday, March 12.

SCMA has completed the repurchase of the Company's shares totaling 2,132,177,090 shares or 14.43 percent of the paid-up capital. SCMA shares in trading today fell 1.41 percent to as low as Rp1,745 per share.

The SCMA will keep the shares that have been bought back to be controlled as treasury shares with reference to the applicable regulations. The company owned by Forbes' version of the 20 richest person in Indonesia will transfer or sell the treasury shares in accordance with the provisions of POJK 2/2013.

For information, the controller of SCMA is PT Elang Mahkota Teknologi Tbk (EMTK) which narrows 61.04 percent of shares. Then the public was 24.53 percent, treasury shares were 14.43 percent.

EMTK is the main business of Eddy Kusnadi Sariaatmadja, a tycoon with assets of US $ 1.4 billion or equivalent to Rp.20.6 trillion (exchange rate of Rp.14,400 per US dollar).