JAKARTA (Yosefardi) – State cement maker PT Semen Indonesia Tbk (SMGR) allocates funds of Rp200-500 billion for buying back its shares amid the current market substantial correction.
SMGR lost 1.85% to close at Rp13,250 at morning trade. At this price, it has market capitlazation of Rp78.59 trillion. The stock had fallen 69% from its peak year to date.
While Holcim Indonesia dropped 4.8% to Rp2,475 per share and Indocement Tunggal Prakarsa inched down 0.26% to Rp18,950.