JAKARTA -PT Kedawung Setia Industrial Tbk (KDSI) is preparing to have a stock split with a ratio of 1:4, meaning that one old share will be divided into 4 shares with new value.
Andi Subroto, Corporate Secretary of KDSI, said that this corporate action is meant to increase the number of circulating shares in the public, while lowering the price, making the shares more affordable.
In addition, this value decline is expected to boost liquidity of the stock, making KDSI an option for investors’ portfolio.
KDSI will have the stock value decreased to IDR 125 per share from IDR 500 per share, while the number of shares increased to 1.62 billion from 405 million shares, and authorised capital multiplied to 2.4 billion shares from 600 million.
This plan will be further decided during Extraordinary General Meeting of Shareholders on October 23, 2024. After the approval, the new value will be applied in the regular and negotiation market on November 5, and in the cash market on November 7.
Nearing the closing bell on today’s (13/9) morning session, KDSI’s stock price climbed to IDR 1,510 per share from IDR 1,500 per share seen at the starting line. (LK/ZH)