12 SOEs Asked for Buyback of IDR 8 Trillion Shares

3 min read

Last updated on May 7th, 2021 at 06:22 am

As many 12 state-owned companies were asked to repurchase (buyback) shares of companies circulating in the public. This is in accordance with instructions from SOE Minister Erick Thohir following the drop in stock trading, which is reflected in the Composite Stock Price Index (CSPI).

According to Erick Thohir through his Special Staff Arya Sinulingga explained, the stock index fell 6.58 percent or 361.73 points to 5,136. for that, the Ministry of BUMN has coordinated with all the state-owned companies.

“The value is around Rp7 trillion-Rp8 trillion which will be carried out (buyback),” said in Jakarta, Tuesday (10/3).

Arya also said that the 12 BUMNs came from three sectors, namely banking, construction, and mining.

From the banking sector, issuers that will conduct a buyback are PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk, and PT Bank Tabungan Negara (Persero) Tbk.

Then the construction sector includes PT Wijaya Karya (Persero) Tbk, PT Adhi Karya (Persero) Tbk, PT PP (Persero) Tbk, PT Waskita Karya (Persero) Tbk, and PT Jasa Marga (Persero) Tbk.

While the mining sector includes PT Aneka Tambang Tbk, PT Bukit Asam Tbk, and PT Timah Tbk.

The corporate action, he continued, was handed over to each company. Some SOEs feel the company’s fundamental value is higher than the transaction value in the market.

“Hopefully this can create market confidence (confidence) and can improve our market performance on existing issues,” he explained.

It is known, the Indonesia Stock Exchange (IDX) has also changed the rules of auto rejection limits in the midst of fluctuations in capital market trading in recent times. This is an IDX effort so that securities / stock trading can continue to run regularly and naturally.

“In order to strive for the implementation of regular, fair and efficient securities trading, the IDX imposed changes to the provisions on auto rejection limits,” said IDX Corporate Secretary Yulianto Aji Sadono in a written statement.

This change is stated in the IDX Board of Directors’ Decree Number Kep-00023 / BEI / 03-2020 regarding changes in the auto rejection limit.

Load More By Desk Writer
Load More In Economy
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Check Also

Understanding Why Children Lie: A Guide for Parents

Children eventually learn to see that others cannot read their thoughts as they negotiate …