Jakarta - PT Mitra Keluarga Karyasehat Tbk (MIKA) plans to buy back a maximum of 83 million shares which the company will carry out within August 23 to November 22, 2021.

"The estimated nominal value of the shares to be repurchased is a maximum of Rp200 billion, with a maximum buyback price of Rp2,400 per share," said Director Joyce V Handajani in the IDX information disclosure on Tuesday (24/8).

According to Joyce, the share buyback will use internal cash, so it will not require additional financing and will not significantly impact the company's revenue decline.

"Because the company has adequate working capital and reserve funds," he added.

However, the share buyback plan will decrease the number of outstanding shares but will not affect the company's earnings per share.

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