Medco extend share buyback program
Thursday, February 25 2016 - 01:42 PM WIB
By Romel S. Gurky
IDX-listed Medco Energi Internasional Tbk announced on Thursday that it has decided to extend its share buyback program and will resell the shares on the market once the market condition has improved.
The amount of shares to be bought back by the firm is a maximum of 10 percent of floated shares and the firm has allocated US$50 million for the buyback.
The buyback will be carried out from Feb. 27, 2016 through May 27, 2016, the firm said, adding that it had assigned a member of the stock change to carry out the buyback.
The last time the firm bought back its shares was from Feb. 26 through May 27, 2015.
Editing by Johannes Simbolon