PTBA launches share buy back program
Tuesday, September 1 2015 - 05:59 AM WIB
By Ruli Setiawan
IDX-listed coal miner PT Bukit Asam Tbk (PTBA) announced Tuesday its plan to buy back up to 101.33 million shares, equal to 4.40 percent of its issued and paid-up capital.
The company said that the Rp 650 billion share buy back program will be implemented from September 2 until December 1, 2015, and it may sell back the shares via the stock market 30 days after the end of the program.
PTBA said it has appointed PT Danareksa Securities to implement the share buy back program. Several other publicly-listed companies have also announced similar program to help prevent the share price from further declining amid the overall volatile stock market.
Editing by Reiner Simanjuntak