PT Garudafood Putra Putri Jaya Tbk (GOOD) will buy back or buy back the company's shares.

The company will carry out the buyback as much as 1% of the company's total issued and fully paid capital.

Based on IDX disclosure, the company allocates a maximum fund of Rp50 billion, including brokerage fees and other fees, and will be carried out gradually within a maximum period of 18 months from the approval of the Buyback of Company Shares by the AGMS or until December 16, 2022

"In connection with the Shares Buyback plan, the Company intends to obtain approval from the Company's shareholders at the AGMS which will be held on Wednesday, June 16, 2021," said the company's official statement, Tuesday (11/5).

The main consideration of the company in carrying out a buyback of the company's shares is that the company can have the flexibility that allows the company to have a mechanism to maintain the stability of the company