Link Net to buyback 10% shares, prepared funds $114m
Lippo’s Group unit PT Link Net Tbk (IDX: LINK) plans to repurchase of 304.26 million shares or equivalent to 10 percent of its paid-up capital with maximum price at Rp 5,000., said the company in a statement. For that plan, it set up a fund to Rp 1.5 trillion (US$114.50 million). In the period from June 24 to June 27, 2016, LINK has bought 516,000 shares with 113 300 of them purchased at an average price of Rp 4,030 and 402 800 shares at Rp 4,065 a piece. LINK own plans to complete the buyback within 18 months until Oct. 15, 2017. Later, these shares will be kept as treasury stock that can be sold back,
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Source: The Insiderstories
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