JAKARTA (Yosefardi) – State cement producer PT Semen Baturaja Tbk (SMBR) allocates Rp100 billion for buying back its shares, to prevent the further correction in shares prices amid current market downside trend.
SMBR gained 1.39% to Rp365 per share this morning. The stock had fallen more than 30% from its IPO price (Rp560). The stock made its trading debut in June 28, 2013.