JAKARTA - The shareholders of the state-owned banking issuer, PT Bank Mandiri (Persero) Tbk (BMRI) agreed to carry out a corporate action in the form of buyback of IDR 1.17 trillion.
The agreement was decided at the Bank Mandiri Annual General Meeting of Shareholders (AGMS) which was held today, Tuesday, March 25.
"The total number of buybacks of IDR 1.17 trillion comes from internal cash," said Bank Mandiri Finance and Strategy Director Sigit Prastowo at the AGMS, Tuesday, March 25.
Sigit explained that this corporate action was part of the company's strategy to accelerate investor confidence in Bank Mandiri's long-term prospects.
"As an effort to balance with market conditions and increase investor confidence in the company, Bank Mandiri implements a buyback program," he said.
For your information, based on the information disclosure of the Indonesia Stock Exchange (IDX), the company's management revealed plans to buy back the company's shares that have been issued and recorded on the IDX.
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In addition, the management also plans to transfer the buyback shares according to the Financial Services Authority Regulation (POJK) Number 28 of 2023.
The company said that buybacks can be done through securities exchanges or outside the stock exchange, both gradually and simultaneously. Also, completed no later than 12 months after the date of the GMS which approved the buyback.
Bank Mandiri itself is scheduled to hold an AGMS on March 25, 2025. This means that if approved this buyback program will take place from March 26, 2025 to March 25, 2026.
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