JAKARTA – PT Midi Utama Indonesia Tbk (MIDI) will initiate a stock split with a ratio of 1:10, meaning that each share of IDR 100 will be split into 10 shares of IDR 10.

Suantopo Po, Director of MIDI, mentioned that this corporate action will be further discussed in the Extraordinary General Shareholders Meeting on January 17, 2023. “This plan will be used to increase the public’s stock portion,” he added, as quoted today (12/1).

As of now, MIDI’s shares reportedly reach 2.88 billion units, meaning that after this stock split, its shares will clock up to 28.82 billion units of common shares.

Until yesterday (11/1), MIDI’s transaction volume clocked up to 106,000 shares, recording a transaction frequency of 19 times worth a total of IDR 316.85 million. MIDI’s stock price was closed at IDR 2,950 per share, peaking at IDR 2,990 per share. (LK/ZH)