JAKARTA – PT Grand House Mulia Tbk (HOMI) or Grand Development will split the value of its stock (stock split) with a ratio of 1:2, meaning that the old shares of IDR 100 each will turn to IDR 50 per share after this corporate action. Suryadi, Vice President Director of Grand Development, announced the plan in the information disclosure quoted Thursday (21/4).
“It is so that the company’s stock number rises and its price becomes more affordable for retail investors, which subsequently boost the liquidity in the stock exchange,” Suryadi clarified.
After this corporate action, HOMI’s shares will be doubled to 315 million units from the initial 157.5 million units. The plan still needs to be discussed during the Extraordinary General Shareholders Meeting on June 2, 2022.
As of April 20, 2022, HOMI’s highest transaction is capped at IDR 1,350 per share, with the lowest being IDR 1,320 per share. It was closed at IDR 1,345 per share, recording 943,500 units of shares circulating in the transaction, worth IDR 1.26 billion in total. (LK/ZH)