Sido Muncul Plans To Buy Back Shares Worth IDR 192 Billion

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) plans to buy back shares by allocating funds amounting to Rp192 billion. This information was conveyed by the company in a press release, quoted on Wednesday, June 25.

The company revealed that the funds were the remaining fee for the share repurchase that had been carried out on March 20, 2025, and did not include intermediary fees for securities and other costs. It was stated that the estimated number of shares to be repurchased was approximately 1.1 percent or approximately 320,000,000 shares of the total issued shares.

Manajemen menyebutkan bahwa buyback saham akan berlangsung dalam jangka waktu 3 bulan setelah keterbukaan informasi, yaki 23 Juni-22 September 2025.

On the other hand, the financing of share repurchase assessed by management will not have a significant impact on the decline in the company's revenue. Because until now the company still has working capital and adequate cash flow for the company's operations.

Until the first quarter of 2025, SIDO had cash and cash equivalents of IDR 1.17 trillion, an increase from the same period the previous year, which was IDR 1.10 trillion. The company's equity reached IDR 3.70 trillion or grew 6.36 percent year to date (YtD).

Meanwhile, the pharmaceutical issuer, which has been listed on the stock exchange since 2013, has appointed PT Mandiri Sekuritas to carry out buyback actions through trading on the IDX.

Previously, SIDO had announced plans to buy back the company's shares of 450 million shares. The funds prepared at that time reached Rp300 billion, including intermediary costs and others.

It is stated that the maximum number of shares purchased again still pays attention to the number of free float shares and will not be lower than 10 percent of the recorded number of shares.