Producer Of Sari Roti Owned By Conglomerate Anthony Salim Buy-back Of Shares Worth IDR 227.27 Billion

Photo: Doc. Nippon Indosari Corpindo

JAKARTA - The producer of Sari Roti conglomerate Anthony Salim, PT Nippon Indosari Corpindo Tbk (ROTI) plans to continue the buyback of shares (buyback) worth IDR 227.27 billion. The plan to repurchase shares for period 5 will be carried out in conditions of a significantly fluctuating market.

"The buyback of the company's shares will be carried out from April 21, 2022, to July 20, 2022," said Director of PT Nippon Indosari Corpindo Arlina Sofia in an official statement, quoted Thursday, April 21.

Arlina said that ROTI plans to repurchase a maximum of 133.69 million shares with a value of IDR 227.27 billion. The Company limits the share purchase price to a maximum of IDR 1.700 per share.

On Wednesday, April 20 trading yesterday, ROTI's shares closed at IDR 1.340. And the ROTI share buyback action will be carried out for three months on April 21- July 20, 2022.

Arlinda said the share repurchase will be carried out through transactions on the Indonesia Stock Exchange. And for that, the company uses the services of a securities broker. The Company has appointed PT BCA Sekuritas as a securities company that will carry out the buyback transaction.

He emphasized that the repurchase of ROTI's shares could stabilize prices in volatile market conditions. This corporate action also provides flexibility for the company in managing long-term capital, where treasury shares can be sold in the future at an optimal value if the company requires additional capital.

"The implementation of the share repurchase does not result in a decrease in revenue and does not have an impact on the company's financing costs, considering that the funds used are internal company funds originating from operational activities," he concluded.