PT Nippon Indosari Corpindo Tbk announces an Equity Buyback for 102,828,499 shares, for IDR 174,808.45 million.
October 20, 2022 at 12:54 am EDT
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PT Nippon Indosari Corpindo Tbk (IDX:ROTI) announces a share repurchase program. Under the plan, the company will repurchase up to 102,828,499 shares for IDR 174,808.45 million. The maximum purchase price would limit to a maximum of IDR 1,700 per share.
The purpose of the program is to stabilize prices in volatile market conditions and provide flexibility for the company in managing long-term capital. The program will be funded from the company's internal funds from operational activities. The repurchased shares can be sold in future if the company requires additional capital.
PT Nippon Indosari Corpindo Tbk is an Indonesia-based bakery company. The Company is engaged in the bakery and cake industry and the wholesale of bakery products. The Company operates through three segments: West area, Central area and East area. The Company offers its products under the brand names, Sari Rot and Sari Kue. Its products include white bread, sweet bread and cakes. Its white bread / sliced bread includes peeled white bread, double soft bread, milky soft bread, pandan bread, wheat bread, choco chips bread and raisin bread. Its sweet bread includes chocolate torn bread, cheese torn bread, chocolate cheese torn bread, soft comb bread, soft mattress bread, cream bread, pan milk bread, burger bun, chocolate sandwich and others. Its cakes include Bamkuhen, Dorayaki, Tiramisu, Kastella and cheesecake. The Company operates over 14 strategically located factories with distribution of more than 78,000 points of sale on modern and traditional channels throughout Indonesia.
PT NIPPON INDOSARI CORPINDO TBK 
