Medco to buy back shares from public

The publicly listed oil and gas firm PT Medco Energy International plans to buy back its shares in a bid to realize the company's employee stock option program, according to company investor relations Thendry Suprianto.

Thendry was quoted as saying by the Neraca daily that the buy back plans would be among of the agenda of the upcoming shareholders meeting.

Neraca estimated that Medco would buy back up to 5 percent of its shares from the public. (*)