JAKARTA. PT Bank Mega Tbk (MEGA), a bank under CT Corp, plans to channel out bonus shares taken out of the capitalisation of net profit and additional capital (stock premium) in March 2022.
Christiana Maria Damanik, Corporate Secretary of MEGA, claims that the bonus shares distribution is intended to enhance the company’s capital structure. The shares distribution is a strategy chosen by the company to strengthen its Tier-1 core capital.
“Therefore, it will support the increase of credit growth,” Damanik adds in the information disclosure in Indonesia Stock Exchange (IDX).
Furthermore, this corporate action will increase the number of shares owned by its shareholders. “Thus, hopefully, the stock trading in the stock exchange will be more liquid,” Damanik reasons.
The management has suggested the bonus shares distribution ratio of 1,000:99. Therefore, with this ratio, one person who holds 1,000 shares of MEGA will earn 99 bonus shares with a face value of IDR 500 each. In total, the total new shares to be issued by the company amount to 689.4 million shares.
The price of MEGA’s bonus shares will be announced a day before the General Shareholders Meeting, scheduled for February 25, 2022. (KR/ZH)