Corporate Actions

In 2022, the Company continued its corporate action of share buyback in a significantly fluctuating market condition. The corporate action was carried out in four periods as follows:

  • Period I : 6 December 2021 - 4 March 2022
  • Period II : 7 March - 6 June 2022
  • Period III : 7 June - 6 September 2022
  • Period IV : 7 September - 6 December 2022

The share buyback was of 250,158,300 shares or equivalent to 6.8% of the total number of Company's shares listed on Indonesia Stock Exchange (IDX). The amount of funds for the share buyback amounted to Rp2.7 trillion.

In order to increase market penetration in eastern Indonesia, the Company entered into a lease agreement in 2022 to use cement production facilities owned by Bosowa Group, including cement terminals in Makassar, Barru, and Garongkong. The agreed contract value does not exceed the materiality threshold of the Company or is less than 20% of the Company's total equity value.