Ada Pertanyaan? Hubungi Kami 
Ada Pertanyaan? Hubungi Kami Fathan Qorib, Andin Aditya Rahman
The Financial Services Authority (OJK) has confirmed that seven publicly listed companies will carry out share buybacks. Noor Rahman, Deputy Commissioner II of the Capital Market Division at the OJK has indicated that these companies have submitted their plans to do so to the OJK.
“There are a few companies that have submitted buyback requests to us. About seven companies will carry out buybacks,” stated Noor at OJK’s main office in Jakarta on Thursday.
In accordance with OJK Regulation No. 2/POJK.04/2013 on Share Buybacks of Issuers and Publicly Listed Companies in Significantly Fluctuating Market Conditions, these seven companies can only carry out shares buybacks after disclosing relevant information to the OJK and the Indonesia Stock Exchange (IDX).
The prescribed information must be disclosed within seven days of fluctuating market conditions occurring, defined as a decline of at least fifteen percent in the IDX Composite Stock Price Index over three consecutive trading days or other conditions determined by the OJK.
Robinson Simbolon, Deputy Commissioner I of the Capital Market Division at OJK, confirmed that the IDX Composite Stock Price Index declined by more than 20 percent between early May and 27 August 2013.
However, he asserted that there is no guarantee that buying back shares will quickly lead to a recovery in the Index because the decline was not solely caused by the poor performance of issuers. Global macroeconomic conditions have also had a hand in affecting domestic conditions.
Robinson underlined the importance of Indonesia’s swift response in improving domestic production and exports to set the Indonesian economy on the right track.
“Our prompt response is expected to not only boost index prices. We must protect issuers to maintain the price of their shares,” he concluded.
(hot/kc)
Fathan Qorib, Andin Aditya Rahman
The Financial Services Authority (OJK) has confirmed that seven publicly listed companies will carry out share buybacks. Noor Rahman, Deputy Commissioner II of the Capital Market Division at the OJK has indicated that these companies have submitted their plans to do so to the OJK.
“There are a few companies that have submitted buyback requests to us. About seven companies will carry out buybacks,” stated Noor at OJK’s main office in Jakarta on Thursday.
In accordance with OJK Regulation No. 2/POJK.04/2013 on Share Buybacks of Issuers and Publicly Listed Companies in Significantly Fluctuating Market Conditions, these seven companies can only carry out shares buybacks after disclosing relevant information to the OJK and the Indonesia Stock Exchange (IDX).
The prescribed information must be disclosed within seven days of fluctuating market conditions occurring, defined as a decline of at least fifteen percent in the IDX Composite Stock Price Index over three consecutive trading days or other conditions determined by the OJK.
Robinson Simbolon, Deputy Commissioner I of the Capital Market Division at OJK, confirmed that the IDX Composite Stock Price Index declined by more than 20 percent between early May and 27 August 2013.
However, he asserted that there is no guarantee that buying back shares will quickly lead to a recovery in the Index because the decline was not solely caused by the poor performance of issuers. Global macroeconomic conditions have also had a hand in affecting domestic conditions.
Robinson underlined the importance of Indonesia’s swift response in improving domestic production and exports to set the Indonesian economy on the right track.
“Our prompt response is expected to not only boost index prices. We must protect issuers to maintain the price of their shares,” he concluded.
(hot/kc)