Jakarta - PT Indocement Tunggal Prakarsa Tbk (INTP) plans to extend its share buyback from March 7 to June 6, 2022.

"The company will use the remaining funds that can still be used in the previous period of Rp1.19 trillion," INTP Director Oey Marcos said in a statement released on Monday (7/3).

He explained that the repurchase of the shares would be carried out at a price that is considered good and reasonable.

In addition, the implementation of the share buyback will not result in a decrease in the company's revenue and will not have a negative impact on financing costs because the funds used are internal funds.

"We hope that the extension of the share buyback period will provide a good rate of return for shareholders while also increasing investor confidence, allowing the share price to reflect the company's actual fundamental condition," he said.