JAKARTA (Yosefardi) – Property developer PT Surya Semesta Internusa Tbk (SSIA) allocates Rp200 billion fund for buying back its shares, maximum 20% of its outstanding shares, at maximum price of Rp1,000 per share.
The buy back will take three months starting September 12, 2013. As of June 2013, the company has cash and cash equivalent of Rp1.8 trillion. PT Ciptadana Securities is assiged to facilitate the buy back of shares.
The company booked net profit of Rp382 billion in first half of this year, increased 2.7% from Rp372 billion in the same period of last year.
It targets to book revenues of Rp4.3 trillion this year, a 20% growth compared to Rp3.6 trillion in 2012.
SSIA shares jumped 8.1% to Rp800 per share this morning.