PT MAHKOTA GROUP WILL BUYBACK SHARES
19 March 2020
Not only state-owned companies, many private issuers are also planning to buyback shares starting this March. This step follows the Financial Services Authority (OJK) policy, which allows issuers with the lowest current stock valuations to buy back shares without going through the General Meeting of Shareholders (GMS).
PT Mahkota Group Tbk (MGRO) will buy back as many as 20 billion shares with funds prepared by IDR 20 billion. The purchase of company shares will be carried out in stages in the period March 19 to June 18, 2020. MGRO appointed PT Panin Sekuritas Tbk for the corporate action.