Antam mulls stock buy back

JSX-listed state miner PT Aneka Tambang (Antam) said on Friday it was considering buying back around 10 percent of its outstanding shares to help boost the stock price.

"The management will propose to shareholders, primarily the government, to allow a share buyback...around 10 percent," finance director Ki Agus Umar Tochfa told a public meeting.

Antam, which has 1.23 billion outstanding shares, ended up 10 rupiah at 425 rupiah ($0.05) on Friday. The company, 65 percent owned by the state, did not give further details. (*)