PT Bukit Asam Tbk successfully sold treasury shares from period 2013-2015 buybacks on April 2, 2019 and May 8, 2019 with a total value of Rp 1.95 Trillion. The total sales of treasury shares amounted to 553.89 million shares. On April 2, 2019, 63.17 million shares were sold at Rp. 4,220 per share and on May 8, 2019 490.72 million shares at Rp. 3,400 per share, so the average sales price was Rp. 3,494. This resulted in Bukit Asam receiving capital gain of 49% of the average purchase price.

The biggest sale of treasury shares occurred on May 8, 2019 with Rp 1.67 trillion in value, through a negotiating market mechanism with settlement T+0. Bukit Asam succeeded in selling treasury shares amid the correction of PTBA's share price after cum-dividend.

This sale must be done due to compliance with the Financial Services Authority (OJK) Regulation no. 30/POJK-04/2017, stated that the transferring Phase I treasury shares deadline will expire in May 2019. If the transfer deadline has not completed, the treasury shares would potentially be deleted.

The sale of treasury shares’ proceed will be used by the Company to finance Bukit Asam Development projects that are currently in progress, especially the gasification project to support the downstream program launched by the government.