Jakarta - PT Indo Tambangraya Megah Tbk (ITMG) plans to sell 33.36 million of the buyback shares.

"The fastest time for implementation is February 18, 2022," said ITMG Corporate Secretary Monika Ida Krisnamurti in information disclosure in Jakarta on Monday (7/2).

The company appointed PT CIMB Niaga Sekuritas as the selling agent to transfer the shares from the buyback.

The prospective buyers can be in the form of investment managers, insurance, pension funds, and other business activities, depending on the results of the limited offering made by the company.

"The company will not offer treasury shares to prospective buyers who have affiliated relationships, " she said.