Selling ITMG Shares From Buyback, Indo Tambangraya Coal Company Raises IDR 706 Billion In Funds

Illustration. (Photo: Doc. Antara)

JAKARTA - The coal company PT Indo Tambangraya Megah Tbk continues to realize the sale of ITMG shares from the buyback. This time it involved 7.2 million shares.

As stated by the Director of Indo Tambangraya Junius Prakasa Darmawan through the disclosure of information to the Indonesia Stock Exchange (IDX), Tuesday, March 8.

"The sale of shares from the buyback of 7.2 million was completed on Monday, March 7," said Junius.

Junis explained that the company sold the shares from the buyback at a price of IDR 29.225 per share. This means that the company managed to reap funds of IDR 210.42 billion.

Prior to the March 7 transaction, the company had also sold 7.85 million shares from the buyback on March 4 at a price of IDR 28.125. In this action, funds obtained by Indo Tambangraya reached IDR 220.78 billion.

The company also carried out a similar transaction on March 1 and 2 by selling 10.33 million ITMG shares at a price of IDR 26.675 and IDR 27.650, respectively. Through these two transactions, the company earned IDR 275.79 billion in funds.

As a result, from March 1 to March 7, 2022, the total sales of shares from the buyback by Indo Tambangraya reached 25.38 million. Of this amount, the total funds collected by the company reached IDR 706.99 billion.

The company's plan to sell shares from the company's buyback will reach 33.37 million shares. Thus, the remaining 7.99 million shares from the buyback will be sold by the company.