PT Matahari Department Store Tbk announces an Equity Buyback for 262,614,878 shares, representing 10% for IDR 500,000 million.
May 09, 2022
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PT Matahari Department Store Tbk (IDX:LPPF) announces a share repurchase program. Under the program, the company will repurchase up to 262,614,878 shares, representing 10% of its issued share capital, for IDR 500,000 million. The shares will be purchased at a maximum price of IDR 7,950 per share.
The purpose of the program is to improve the company's market value. The program will be funded from working capital of the company. The program is valid till June 3, 2022.
PT Matahari Department Store Tbk is an Indonesia-based company, which is engaged in the retail business for several types of products such as clothes, accessories, bags, shoes, cosmetics, and household appliances, and management consulting service. The Companyâs segments include Sumatra; Java; Kalimantan, Sulawesi and Maluku, and Others. It operates approximately 156 stores. The Companyâs brands include Nevada, Details, Little M, connection, Cole and Pipiniko. It offer clothes, such as chaos and polo shirt, blouse shirt, sweater and cardigan, dress, outerwear, long pants, jeans, shorts, underwear and sleepwear, maternity clothes, sports clothing, playsuits and jumpsuits. It offers shoes, such as slippers, sneakers, sport shoes, slip Ons, formal shoes, and boots. It offers products under suitcase, such as backpack, shoulder bags, handbags, suitcases and travel bags, wallet, and sports bag.
PT MATAHARI DEPARTMENT STORE TBK 
