JAKARTA – PT Grand House Mulia Tbk (HOMI), a property and real estate developer, will arrange a stock split with a 1:2 ratio, meaning dividing the face value of IDR 100 per share to IDR 50 per share. This corporate action plan had been approved during the Extraorfinary General Shareholders Meeting yesterday (2/6).
Suryadi, Vice President Director of HOMI, claimed that the management is given the authority to lead this stock split agenda, including specifying the administrative steps and the execution date. “Additionally, the management is also granted the control to modify the articles of association of the company regarding said corporate action,” he explained in the meeting treatise quoted today (3/6).
The amendment of the articles of association possibly refers to the authorised capital of HOMI that reaches IDR 250 billion, comprising 5 billion shares of IDR 50 each, and the issued and paid-up capital of 31.5%, amounting to 1,575,000,000 shares.
Until May 30, 2022, HOMI’s stock value is capped at IDR 1,320 each. As of April 2022, its shares reportedly amount to 787.5 million units, 52% of which is controlled by PT Graha Mulia. Tan Ping owns another 12%, followed by Suryadi of 8%, the public of 20%, as well as Veliana Tanaya and Willy of 4% each. (LK/ZH)