JAKARTA - PT TBS Energi Utama Tbk (TOBA) is allocating IDR 474.58 billion to repurchase (buyback) a maximum of 10% of total issued and paid-up capital.
In the information disclosure quoted Monday (7/10), the estimated number of shares to be repurchased is 816.78 million for IDR 580 each. The price is set according to the closing price last week (4/10), bringing total transaction value to USD 30.82 million or IDR 474.58 billion with currency exchange rate of IDR 15,394 per USD.
Referring to Financial Report of June 2024, this corporate action will bring total assets to USD 907.86 million from USD 938.69 million, total equity tp USD 423.69 million from USD 454.52 million, total equity attributable to the parent entity to USD 323.41 million from USD 354.24 million, and return on equity to 8.19% from 7.48%.
As of August 2024, TOBAs shares were at 8.16 billion with controllers owning 61.017% of them, followed by non-controllers of 38.983%. Total shareholders reached 16,950, with the ultimate beneficial of the shares being Richards Matthew Paul.
The buyback is projected to take place no later than 12 months since the approval gained after the Extraordinary General Meeting of the Shareholder on November 14, 2024. (LK/ZH)