Jakarta - PT United Tractor Tbk (UNTR) has extended the share buyback program period for the next three months.

"The company will carry out the buyback of shares on October 12, 2022—January 11, 2023," said Corporate Secretary Sara K Loebis in an information disclosure on Wednesday (10/12).

Sara added that the company would allocate Rp5 trillion for the plan.

"We believe that the implementation of the share buyback will not have a negative impact on our performance and revenue. It is because the current retained earnings and cash flow are sufficient for the funds needed for the share buyback," she said. 

He continued, saying the share buyback is expected to stabilize the company's share price in volatile market conditions and provide investors with confidence in the fundamental value of the company's shares 

"In addition, share buybacks also provide flexibility for the company in managi