ID :
14586
Fri, 08/01/2008 - 16:45
Auther :
Shortlink :
http://m.oananews.org//node/14586
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MEDCO ENERGY BUYS BACK 10.668 MILLION SHARES
Jakarta, Aug. 1 (ANTARA) - PT Medco Energy International Tbk (MEDC) has bought back 10.688 million of its shares worth a maximum of US$80 million, a company spokesperson said.
"The transaction was done through executive broker PT Kresna Graha Sekurindo," MEDCO Corporation Secretary Cisca Alimin said here on Friday.
She said the shares were traded at an average of Rp4,518 per share. The shares that had been bought back numbered 14.847 million or 0.45 percent of the total shares registered at the Indonesian Stock Exchange (BEI).
MEDCO had spent US$7.371 million to buy back the shares, and still had US$72.628 million in funds to buy back more shares.
According to Alimin, in an extraordinary shareholders' meeting last June 5, it was agreed to buy back a maximum of 109.637 million shares with a maximum value of US$80 million at a maximum price of Rp9,000 per share. The deadline of the buyback was November 15, 2009.
MEDCO, Indonesia's largest publicly listed oil and gas company announced that its net profit in the first semester of 2008 jumped more than two-fold to US$63.42 million from US$27.64 million in the first semester of 2007.
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"The transaction was done through executive broker PT Kresna Graha Sekurindo," MEDCO Corporation Secretary Cisca Alimin said here on Friday.
She said the shares were traded at an average of Rp4,518 per share. The shares that had been bought back numbered 14.847 million or 0.45 percent of the total shares registered at the Indonesian Stock Exchange (BEI).
MEDCO had spent US$7.371 million to buy back the shares, and still had US$72.628 million in funds to buy back more shares.
According to Alimin, in an extraordinary shareholders' meeting last June 5, it was agreed to buy back a maximum of 109.637 million shares with a maximum value of US$80 million at a maximum price of Rp9,000 per share. The deadline of the buyback was November 15, 2009.
MEDCO, Indonesia's largest publicly listed oil and gas company announced that its net profit in the first semester of 2008 jumped more than two-fold to US$63.42 million from US$27.64 million in the first semester of 2007.
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