JAKARTA: Indonesia’s Financial Services Authority (OJK) said on Monday it now allows listed companies to start buying back up to 20% of their share capital without seeking shareholder approval.
It noted that the index faces “significant pressure” due to fear over the coronavirus spread and this has triggered the measure to help stabilise the stock market.
Indonesia’s main stock index dropped 6.6% on Monday, its biggest single day loss since October 2011, bringing the year-to-date decline to 18.5% so far this year. – March 9, 2020, Reuters
