PT Nippon Indosari Corpindo Tbk (ROTI) plans a share buyback to be carried out in the period April 20 to July 19, 2021.

"The estimated value of shares to be brought back is a maximum of Rp480 billion with a maximum number of shares of 300 million shares," said Director of ROTI, Arlina Sofia, in the IDX disclosure, on Tuesday (20/4).

According to him, the company limits the share purchase price to a maximum of Rp1,600 per share.

The implementation of the share buyback will not result in a decrease in income and impact the company's financing costs, considering that the funds used are internal funds originating from operational activities.

On the other hand, stock buybacks can stabilize prices in volatile market conditions. This corporate action also provides flexibility for the company in managing long-term capital, where it can sell treasury shares in the future with optimal value.

The share buyback will be carried out