JAKARTA – PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) would issue bonus shares with a ratio of 131:1 in which every 131 old shares would equal one bonus share.
In the information disclosure quoted on Wednesday (28/7), Tiurma Simamora, Corporate Secretary of Sido Muncul, reveals that this plan would be further decided during the Extraordinary General Shareholders Meeting on September 3, 2021. The bonus shares are issued from the treasury stock, which has amounted to 229,778,200 units worth IDR 11.48 billion in total in June 2021.
This treasury stock is recorded in SIDO’s financial report. It originates from the shares buyback performed from September 2015 until February 2016, generating 519,750,400 units with an average purchase price of IDR 256.3 each. From October 2016 to November 2020, SIDO had previously distributed those bonus shares as well.
The said bonus issue is said to be a testament to the company’s performance capability. Furthermore, SIDO’s shares in the market would multiply after this bonus shares issuance, thus hopefully increasing liquidity in the market. (LK/ZH)