JAKARTA. PT Bayan Resources Tbk (BYAN) will officially initiate the stock split with a 1:10 ratio and schedule the last trading session with the old face value on December 1, 2022.
Said corporate action had been approved during the General Shareholders Meeting on November 17, 2022. It is intended to enhance the liquidity of the shares of BYAN in the stock exchange by setting a more affordable price for retail investors. It also aims to increase the number of floating stock. Yesterday (28/11), BYAN’s stock price hit IDR 93,150 per share.
In the information disclosure in Indonesia Stock Exchange (IDX) yesterday (28/11), the company has set the kick-off date of the stock split. The last day of trading with the previous face value in the regular and negotiated market has been scheduled to take place on December 1, 2022. In other words, the stock trading session with the new face value will start on December 2, 2022.
Meanwhile, the last date for completing transaction of shares with old value in the regular and negotiation market is set to December 5, 2022, which is the same date with the one set for determining account holders that will receive stock-split value.
Then, from December 2 to 5, 2022, the trading session will be put into halt, bringing the beginning date of stock trading with the new value post stock split to December 6, 2022. (AM/ZH)