JAKARTA: PT Asiaplast Industries Tbk has conducted buyback on 3.56 million shares as of June 2012.
Such buyback has reached 2.37% of the company’s plan to buy 150 million shares, Asiaplast Industries Director Susanto Tjioe said as cited from a report submitted to Indonesia Stock Exchange.
It was conducted with stock price range of IDR85 per share - IDR89 per share.
“We had conducted buyback on 3.56 million shares since 12 June to 28 June 2012 or 2.37% from our target,” he said Wednesday (7/11/2012).
At the end of May 2012, the APLI-coded company has obtained approval to buy back 10% of public share at maximum price of IDR100. After the corporate action, public shareholding will become 10.01%.
Asiaplast Industries President Director Wilson A. Pranoto has previously said that such buyback will be conducted for 18 months after obtaining approval from shareholders. The company allocates IDR15 billion from internal cash and plans to keep the acquired shares as treasury stock.
In today’s trading, the APLI-coded share weakened 1.1% to IDR90 and capitalized the market by IDR135 billion. (T06/faa)
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