JAKARTA – PT Petrindo Jaya Kreasi Tbk (CUAN) will carry out a stock split following a sharp rise in its share price since its Initial Public Offering (IPO).

CUAN President Director Michael stated that the stock split will be executed at a 1:10 ratio, meaning each share will be split into 10 new shares.

As a result, the number of CUAN shares will increase to 112.42 billion, up from the current 11.24 billion.

Michael said the stock split would make CUAN shares more affordable for investors.

“This will increase the number of investors able to transact the company’s shares,” said Michael in a disclosure to the Indonesia Stock Exchange (IDX).

CUAN’s management will seek shareholder approval at a General Meeting of Shareholders (GMS) on 26 June 2025. The stock split is scheduled to take place on 10 July 2025.

At the close of trading on Monday (19/5), CUAN shares were priced at IDR 9,950 each. Since its IPO, the share price of the company owned by tycoon Prajogo Pangestu has soared by 2,235.68%. (KR/ZH)