PT Matahari Department Store Tbk commences an Equity Buyback Plan for 10% of its issued share capital, for IDR 200,000 million, under the authorization approved on March 29, 2023.
March 28, 2023
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PT Matahari Department Store Tbk (IDX:LPPF) commences share repurchases in first quarter of 2023, under the program mandated by the shareholders in the Annual General Meeting held on March 29, 2023. As per the mandate, the company is authorized to repurchase its own shares, representing 10% of the its issued share capital, for 200,000 million. Shares will be repurchased at a maximum price of IDR 7,900 per share.
The purpose of the program is to give to improve shareholders' value of the company that will give greater flexibility to the company in managing its capital to achieve a more efficient capital structure. The program will expire no later than 18 months after the Company obtains approval from meeting.
PT Matahari Department Store Tbk is an Indonesia-based company, which is engaged in the retail business for several types of products such as clothes, accessories, bags, shoes, cosmetics, and household appliances, and management consulting service. The Companyâs segments include Sumatra; Java; Kalimantan, Sulawesi and Maluku, and Others. It operates approximately 156 stores. The Companyâs brands include Nevada, Details, Little M, connection, Cole and Pipiniko. It offer clothes, such as chaos and polo shirt, blouse shirt, sweater and cardigan, dress, outerwear, long pants, jeans, shorts, underwear and sleepwear, maternity clothes, sports clothing, playsuits and jumpsuits. It offers shoes, such as slippers, sneakers, sport shoes, slip Ons, formal shoes, and boots. It offers products under suitcase, such as backpack, shoulder bags, handbags, suitcases and travel bags, wallet, and sports bag.
PT Matahari Department Store Tbk commences an Equity Buyback Plan for 10% of its issued share capital, for IDR 200,000 million, under the authorization approved on March 29, 2023.
PT MATAHARI DEPARTMENT STORE TBK 
