JAKARTA: PT Adhi Karya Tbk, a state-construction company, completed the sellback of 44.09 million shares worth IDR40.69 billion to the stock market.
Adhi Karya Director Supardi admitted it through the information disclosure in PT Bursa Efek Indonesia on Wednesday, May 9, 2012.
“The average sellback price per share is IDR922.81,” he said as cited from the statement.
The company conducted the sellback from April 9 to May 3, 2012, indicating the transaction ran within 19 working days.
Adhi Karya conducted the sellback of shares which was previously repurchased (buyback) from public, mostly carried out when the company’s shares price was weakening amid declining stock market condition in 2008 due to global capital market pressure.
The ADHI-coded share fell by 20 points or 1.89% to IDR1,040 amid declining domestic and global stock markets today.
It capitalized the market by IDR1.89 trillion and created price to earnings ratio (PER) 9.1 times. (T06/msw)
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