PT Semen Indonesia Tbk (SMGR) will conduct a stock split if the stock price in the market reach the level of Rp 20,000 per share.
"We're going to do a stock split, if the stock price SMGR was at Rp 20,000 per share," said Director of SMGR, Dwi Soetjipto Saturday (1/6) in Gresik, East Java.
Dwi Soetjipto said that corporate action plan is done so the SMGR stocks are more liquid in the market, then it can be more affordable and absorbed by retail investors.
Dwi said this stock split plan would use ratio of one to five (1:5). Thus the nominal value of SMGR will be Rp 100 per share compared to the current Rp 500 per share.
SMGR stock price is currently still in the range of USD 18,000 per share, at the close of trading on Friday (31/5). The SMGR at the level of Rp 18,000 per share, down USD 250 from the previous closing price of Rp 18,250 per share.
for Indonesia Market Summaries 3 June 2013
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