JAKARTA. PT Bank Central Asia Tbk (BBCA) gears up for redistributing its shares’ value, also known as a stock split, with a 1:5 ratio to attract more investors.
Raymon Yonarto, Corporate Secretary of BCA, the stock split is estimated to take place in October 2021. The company would ask for approval during the Extraordinary General Shareholders Meeting on September 23, 2021.
“This stock split is intended to increase the liquidity of the company’s shares in Indonesia Stock Exchange and make the price more affordable for retail investors,” Yonarto further explains in the information disclosure earlier today (30/7).
Currently, BBCA’s shares amount to 24.66 billion units with a par value of IDR 62.50 each. After the stock split, the number would increase fivefold to 123.28 billion shares, with a nominal value of IDR 12.50 per unit.
According to idnfinancials.com record, the price of BBCA’s shares during the closing weakens by 1.16% or 350 points to IDR 29,850 per share. Meanwhile, its price from early 2021 until today’s trading closing is reported to drop by 12.66% from IDR 34,175 per share. (KR/ZH)