VIVAnews - PT Kalbe Farma Tbk. (KLBF) had bought back its 22,172,500 units shares. The number is equal to 0.22 percent of the issued capital and paid-up capital.
Kalbe Farma's corporate secretary Vidjongtius explained in a written statement publicized by the Indonesia Stock Exchange (IDX) in Jakarta on Aug. 19 that the corporate shares buyback has been completed on Aug. 18 2009 based on the Capital Market and Financial Supervisory Agency Bapepam-LK No.XI.B.3 C Phase.
"The used fund in the shares buyback reached around Rp 23.5 billion," said Vidjongtius in the written statement.
He said that the company has yet to achieve the share buyback target because the company bought back the shares adjusted to the condition of the daily cash flow.
Previously, the CIMB-GK Securities Indonesia research team maintained an outperform level for Kalbe Farma (KLBF) shares with the price target of Rp 1,550 of the previous Rp 1,500.
The target was based on the discounted cash flow (DCF) with an assumption of weighted average cost of capital of 14.6 percent and 8 percent of long term growth.
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Translated by: Ariyantri E. Tarman
