Jakarta - PT Medikaloka Hermina Tbk (HEAL) plans to buy back a maximum of 40 million shares on November 8-24 in 2021.

"The estimated nominal value of the shares to be repurchased is a maximum of  Rp50 billion. The share buyback price is limited to a maximum of Rp1,450 per share," said HEAL Director Aristo Setiawidjaja in information disclosure on Tuesday (9/10).

According to Aristo, the company has sufficient working capital and cash flow to carry out this corporate action, so implementing the share buyback will not significantly affect the company's revenue.

"The implementation of the share buyback plan has no impact on the company's revenue, but with a change in the number of outstanding shares, the share buyback plan has an insignificant impact on the company's earnings per share," he explained.

He added that share buybacks also allow the company to manage long-term capital, where treasury shares can be