Mitra Keluarga plans share buyback of up to 1 trillion rupiah
TL;DR
Mitra Keluarga (Mitratel) approved a share buyback program of up to IDR 1 trillion to strengthen its financial structure and enhance investor value. The move follows strong performance, including revenue growth and expansion to over 39,000 towers, and includes board appointments to improve governance and sustainability efforts.
Mitra Keluarga plans share buyback of up to 1 trillion rupiah
PT Dayamitra Telekomunikasi Tbk (Mitratel) announced at its Extraordinary General Meeting of Shareholders (EGMS) the approval of a share buyback program with a maximum allocation of IDR 1 trillion, aimed at strengthening the company's financial structure and delivering long-term value to investors according to the announcement. The buyback, valid for 12 months from the resolution date, follows robust business performance, including revenue growth driven by long-term contracts with major Indonesian telecommunication operators and an expanded tower portfolio exceeding 39,000 towers, solidifying Mitratel's position as Southeast Asia's largest telecommunication tower company as reported.
The EGMS also approved the appointment of Ibnu Sulistyo Riza Pradipto as an independent commissioner, enhancing the Board of Commissioners' expertise in innovation and corporate governance. The revised board composition includes Fadli Tri Hartono as President Commissioner and five additional commissioners, emphasizing governance synergy and strategic execution according to the resolution.
Mitratel's President Director, Theodorus Ardi Hartoko, highlighted the significance of these decisions in reinforcing corporate governance and aligning with the company's sustainability priorities. These include developing renewable energy-based infrastructure, community empowerment programs, and adherence to international ESG standards as stated in the announcement. The resolutions underscore investor confidence in Mitratel's growth strategy and governance framework, supporting its regional expansion ambitions while maintaining transparency and accountability according to company leadership.
According to the official announcement: https://www.mitratel.co.id/2025/09/19/extraordinary-general-meeting-of-shareholders-mitratel-approves-idr-1-trillion-share-buyback-and-appoints-new-independent-commissioner/
