Jakarta, CNBC Indonesia – PT Bank Central Asia Tbk (BBCA) will conduct a stock split with a ratio of 1:5. This is done by observing the development and dynamics of the domestic economy and market, including trading activities on the Indonesia Stock Exchange.
“As a member of the stock exchange, we are also committed to encouraging the development of the country’s capital market, so the company decided to take a corporate action to split its outstanding shares (stock split) to provide wider opportunities for retail investors to invest in BCA shares,” he said. President Director of BCA Jahja Setiaatmadja, in a press release on Friday (30/7/2021).
In the Meeting of the Board of Directors & Commissioners of BCA PT Bank Central Asia Tbk (BCA) on July 29, 2021, it has approved the corporate action of a stock split with a ratio of 1:5 (1 old share to 5 new shares).
The par value per unit of BBCA share is currently IDR 62.50, while the par value per unit of BBCA share after the stock split will be IDR 12.5. For information, BBCA’s share price at the time of this release was around Rp. 30,000 per unit share.
“Through this corporate stock split, we hope that BBCA’s share price will be more affordable for retail investors, especially the demographic of young investors who are currently active in the stock exchange. This is also a form of our support to increase trading liquidity in the domestic capital market.” said Jahja.
The stock split process will follow applicable regulations and require shareholder approval through the Extraordinary General Meeting of Shareholders which is planned to be held on September 23, 2021.
After obtaining approval from shareholders, BCA will coordinate with the Indonesia Stock Exchange to process the stock split which is expected to occur in October 2021.
(hps / hps)
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