JAKARTA (Indonesia Today) – Coal miner PT Resources Alam Indonesia Tbk (KKGI) plans to buy back its shares which cost Rp200 billion.
The buy back is scheduled to start in October 29, 2012 until April 28, 2014.
Total of shares to be bought back will represents 25% of its daily trading volume. PT CIMB Securities Indonesia has been assigned to facilitate the buy back.
Currently the public investors hold 36.78% KKGI shares ownership while COUTTS and Co Ltd Singapore is the controlling shareholder with 31.37% ownership.
KKGI was traded at Rp3,125 per share on Monday (Sept 17). At this price, it has market capitalization of Rp3.12 trillion. (hans@theindonesiatoday.com)