Jakarta - PT Medikaloka Hermina Tbk (HEAL) plans to buy back 80 million shares with a maximum value of Rp 100 billion.

"The buyback period is from February 15 to February 24, 2022," said HEAL Director Aristo Setiawidjaja in information disclosure in Jakarta on Tuesday (15/2).

According to Aristo, the company has limited the share buyback price to a maximum of Rp1450 per share.

Currently, the company has sufficient working capital and cash flow to carry out the share buyback plan.

He explained that this share buyback plan "will not significantly affect the company's revenue."

Stock buybacks can stabilize prices in volatile market conditions.

"This plan also provides flexibility for the company in managing long-term capital, where treasury shares can be sold in the future," he said.