Bumi to buy back up to 3.7% of shares

PT Bumi Resources Tbk, the country?s largest coal producer, said its shareholders have approved the management?s plan to buy back up to 780 million shares, or 3.75 percent of outstanding shares.

The shares will be bought from the market at maximum price of Rp5,000 per share.

The company company did not explain the purpose of the buyback. (romel)