Jakarta - PT Matahari Department Store Tbk (LPPF) plans to buy back 262.61 million C series shares, or 10% of the company paid-up and issued capital.

"The total cost to carry out this buyback is a maximum of IDR 500 billion," said LPPF Corporate Secretary Miranti Hadisusilo in information disclosure in Jakarta, Monday (7/2).

According to Miranti, there is no significant impact on the cost of share buybacks, and there is no decrease in revenue.

"It is hoped that the 2022 share buyback will not affect business and operational activities because the company already has sufficient working capital to carry out business activities," he explained.

The company will limit the maximum share buyback price to Rp4,700 per share.

The share buyback will be carried out no later than May 3, 2022.