Unilever to launch stock split
JAKARTA - PT Unilever Indonesia Tbk (UNVR) will launch a stock split with a 1:5 ratio on January 2, 2020 to expand its ownership and activate stock exchange trade.
As of Wednesday (26/12), the company's stock price reached Rp 42,300 per share, up by Rp 650 from the day's opening price of Rp 41,650.
As announced by the company, UNVR shares will be traded using a new nominal value of Rp 2 per share. "The end of trading using the old nominal value of Rp 10 in the regular and negotiation markets will take place on Monday, December 30, 2019," the company stated on Monday (23/12).
On January 3, UNVR will decide on the securities account entitled to the stock split proceeds, while share distribution using the new nominal value of Rp 2 to securities account holders at the Indonesian Central Securities Depository (ICSD) will take place on January 6. On the same day, the shares will be traded with its new nominal value at the cash market.
The stock split plan was first announced in October 2019, and the company obtained shareholder approval for the corporate action at its AGM in November. (ARM/MS)