Jakarta - PT Kalbe Farma Tbk (KLBF) plans to buy back 588 million shares with an estimated maximum fund of Rp1 trillion.

According to Kalbe's President Director, Vidjongtius, the company limits the maximum share purchase price to Rp1,700 per share.

"The company plans to use internal funds and loans as the main sources of financing for share buybacks. We estimate the impact of interest costs from loans at around Rp29 billion per year, " said Vidjongtius in information disclosure on Wednesday (9/2).

Taking into account the decline in income on a pro-rata basis, the company estimates the performance of earnings per share for the nine months of 2021 at Rp48.3 per share compared to shares recorded at Rp48.8 per share.

The share buyback will be held from February 9, 2022, to May 8, 2022.

He hopes that share buybacks can stabilize prices in volatile market conditions and provide investors with confidence in the fundamental val