JAKARTA (Yosefardi) – PT Global Mediacom TBK (BMTR) had in August 30, 2013 bought back 13.68 million shares at price of Rp1,694. BMTR lost 1.74% to Rp1,690 Tuesday (Sep 2).
PT Ace Hardware Indonesia TBk allocates Rp34.37 billion for buying back 45.5 million shares, representing 20% of its paid-up capital. CES jumped 7.14% to Rp750 Tueday.
While property developer PT Bukit Darmo Property Tbk said it is now seeking best option for supporting its share price under current market pressure.
Also property developer PT Jaya Real Property Tbk allocates Rp50.15 billion fund for buying back its shares amounting maximum 77 million units.
The Financial Service Authority (OJK) had in Friday last week (August 23) issued new rule allowing a listed company to launch a buy back of shares without seeking approval from shareholders for a maximum of 20% of total company’s paid-up shares capital.
This is an effort to minimize the current significant fluctuation of capital market. A significant fluctuation means the composite index of the Indonesia Stock Exchange (IDX) dropped by 15% or more in past three consecutive trading days.
The company could launch buy back of shares after making a disclosure to IDX within 7 days since 15% price drop as ruled. The buy back would be only made within three months from date of disclosure.