Jakarta. Chandra Asri Pacific (IDX: TPIA) announced Tuesday a share buyback plan of up to Rp 2 trillion ($119.3 million).

The corporate action is part of Chandra Asri Pacific's efforts to maintain stable stock performance amidst significantly fluctuating market conditions, while simultaneously increasing shareholder value, improving stock performance in line with the company's fundamentals, and maintaining public trust.

Chandra Asri had published the announcement via the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX) on Feb. 3. It is expected to be implemented over a maximum period of three months (Feb. 4-May 3), in accordance with POJK No. 13 of 2023 and SEOJK No. S-102/D.04/2025.

The company announced the buyback funds would be entirely sourced from the company's internal cash, with an estimated 0.29%, or approximately 250 million shares, of the total shares issued to be repurchased. The share repurchase price is set at a maximum of Rp 10,000 per share.

Chandra Asri Pacific said that the buyback would not impact the company's financial performance or business activities. The company has adequate cash flow and working capital to support business operations, capital expenditures, and the simultaneous share repurchase, according to its press release.