MAG Insurance AMAG Extends Share Buyback Period until May 2022

Image credit: Asuransi MAG -

PESANKU.CO.ID -- PT Asuransi Multi Artha Guna Tbk. (AMAG) extended the buyback period (buyback) of the company's shares to 237.19 million shares until May 11, 2022. In an information disclosure on the Indonesia Stock Exchange, Monday (14/2/2022), the company extended the share buyback period for 3 months.


The repurchase of shares will start from February 11, 2022 until May 11, 2022. The costs and expenses that will be incurred to carry out the buyback are a maximum of Rp. 85.4 billion.


"The estimated nominal value of all shares to be repurchased is at most 237,194,064 shares with a total par value of Rp23.72 billion," said MAG Insurance management.


 AMAG assesses that the repurchase of the company's shares will not result in a decrease in revenue and will not affect the company's business activities and operations, especially in carrying out the company's obligations to the insured. This is because the company already has sufficient working capital to carry out its business activities and operations.


Meanwhile, the purpose of this transaction is to increase the company's share price in the future to be more stable and have a positive impact on the company's shareholders.


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