Jakarta - PT United Tractor Tbk (UNTR) plans to carry out a share buyback of a maximum Rp5 trillion.

According to the company's disclosure of information submitted to the IDX on Thursday (7/14), the company will buy back shares between July 13, 2022, and October 12, 2022.

The company will conduct the period of implementation of the share buyback through the Indonesia Stock Exchange. Meanwhile, the number of shares to be repurchased is at least 7.5% of the company's paid-in capital.

The company believes that the share buyback will not affect the financial condition because, even though the company carries out the plan until now, the company still has sufficient capital to finance the company's business activities.

The allocation of funds to realize the buyback plan comes from internal cash. Thus, the company's assets and equity will decrease by an estimated maximum of Rp5 trillion.