Soaring 15.23% after announcing the buyback, this is the direction of Adaro Energy (ADRO) shares

Reporter: Akhmad Suryahadi | Editor: The novice Laoli

KONTAN.CO.ID – JAKARTA. Purchase plan (buyback) shares held by PT Adaro Energy Tbk (ADRO) contributed to the movement of the shares of this coal mining issuer.

At the close of trading on Tuesday (28/9), ADRO’s shares shot 15.23% to a level of Rp 1,740.

Just so you know, ADRO is planning buyback shares with a maximum amount of IDR 4 trillion.

The repurchase of these shares will be carried out in stages for a period of three months, starting from the date of information disclosure (27/9) until December 26, 2021.

Also Read: Disburse jumbo funds for buybacks, see recommendations for shares of Adaro Energy (ADRO)

Muhammad Alfatih, Vice President of Samuel Sekuritas Indonesia agrees, the surge in ADRO shares today is fueled by sentiment buyback share.

“In addition, world coal prices have increased rapidly in recent days,” explained Alfatih when contacted by Kontan.co.id, Tuesday (28/9).

MNC Sekuritas analyst Herditya Wicaksana observed, from today’s trading the buying pressure that occurred in ADRO shares was quite large. Quoting RTI, ADRO’s total volume (shares) reached 500 million shares.

Also Read: ADRO’s share price shot up 13.91% in the first session of the stock exchange Tuesday (28/9)