JAKARTA. PT Temas Tbk (TMAS), a container shipping and transportation company, schedules a stock split with a ratio of 1:10.

Marthalia Vigita, Corporate Secretary of TMAS, claimed that the face value of TMAS’s shares will change to IDR 2.5 per share from the initial IDR 25 per share. Meanwhile, the total number of company’s shares will rise from 5.71 billion shares to 57.05 billion shares.

“The company’s objective for this stock split is to increase the liquidity of the shares in the trading session,” Vigita mentioned in the information disclosure in Indonesia Stock Exchange (IDX).

In addition to this, Vigita believed that this corporate action will increase the popularity of TMAS’s shares, thus attracting more retail investors and enhancing their motivation for investment,” she explained.

TMAS will then ask for approval during the Extraordinary General Shareholders Meeting that is scheduled to take place on April 12, 2023. Then, the trading with the new nominal value in the regular and negotiation market will begin on May 11, 2023, or May 15, 2023, in the cash market. (KR/ZH)