Jakarta - PT Petrosea Tbk (PTRO) announced the implementation of share trading with a new nominal value as a result of a stock split which will begin on January 3, 2025.

The stock split with a ratio of 1:10 aims to attract retail investors by offering shares at a more affordable price. 

Anto Broto, Head of Corporate Secretary and Investor, PTRO, in an information disclosure on Tuesday (24/12) stated that trading of shares with the old nominal value in the regular and negotiation markets of the Indonesia Stock Exchange (IDX) will end on January 2, 2025. After that, the nominal value of PTRO shares will change from IDR 50 per share to IDR 5 per share. 

He explained that the stock split had been approved through an Extraordinary General Meeting of Shareholders (EGMS) held on December 16. 2024.

The period of the stock split in the cash market is scheduled for January 3 and 6, 2025, with trading of the new-nominal shares in the cash market becoming effective on January 7,  2025. 

Management hopes that the stock split will make the company's share price more affordable for investors. “We hope that this stock split can provide wider opportunities for investors, especially individuals to participate in PTRO's share ownership.” (DK/LM)