PT Medikaloka Hermina Tbk (HEAL) plans to buy back shares with a maximum amount of 12 million shares.

To smooth this action, the company engaged in the health sector has prepared up to Rp60 billion funds.

Medikaloka Director Hermina Aristo Setiawidjaja said the share buyback is expected to stabilize prices in volatile market conditions. This action also provides flexibility for the company in managing long-term capital, where treasury shares can be sold in the future at an optimal value if the company requires additional capital.

"The repurchase will be carried out through transactions on the Indonesia Stock Exchange (IDX) starting from May 31, 2021 to June 9, 2021," he said in Jakarta, Wednesday (2/6).

In this action, the company limits the buyback price to a maximum of  Rp5,500 per share.

The management of Medikaloka Hermina assesses that this action will not significantly affect the company's revenue because the