JAKARTA – PT Pudjiadi Prestige Tbk (PUDP) prepares a stock split with ratio set to 1:2 at the beginning of July 2024 after securing approval from shareholders during its Extraordinary General Meeting of Shareholders last Thursday (6/6).

With this corporate action, PUDP’s number of shares will double, from 329.56 million shares to 659.12 million, whereas its stock value will be halved, from IDR 500 per share to IDR 250 per share.

According to the official release of the company, PUDP has obtained the principal approval from Indonesia Stock Exchange stated in a Letter No. S-03465/BEI.PP2/04-2024 on December 29, 2023.

This stock split is scheduled to take place on July 4, 2024, exactly a week after the dividend distribution for the fiscal year 2023. The last date of transaction with old nominal value will fall on July 3, 2024.

As commonly seen, through this stock split, PUDP intends to increase the liquidity of its stocks. “The increase of circulating shares, and the price that is relatively low, are expected to attract investors to purchase the company’s shares,” said the management in its official statement quoted today (7/6).

For the record, until the end of today’s (7/6) morning session, PUDP was closed at IDR 400 per share, down from IDR 410 seen at yesterday’s (6/6) closing bell. (ZH)