JAKARTA. PT Impack Pratama Industry Tbk (IMPC), a plastic and packaging manufacturer, announces its plan to distribute bonus shares worth a total of IDR 493.35 billion.

In order to carry out this plan, IMPC will ask for approval during Extraordinary General Shareholders Meeting, which has been scheduled to take place on June 8, 2023.

The bonus shares originate from the capitalisation of surplus shares, which was recorded on December 31, 2022. Each share is valued at IDR 10.

The ratio of bonus shares distribution is set to 1:10, meaning that for every share that a holder owns, they may gain 10 bonus shares. Then, these bonus shares will be converted to new shares, taken from the company’s stock portfolio.

IMPC’s shareholders that are entitled to these bonus shares are those registered as official shareholders by June 20, 2023.

The management expects this bonus shares distribution to assist in evening out stock ownership amongst public investors. Therefore, said the management, the shares will be more liquid and mirror the company’s performance.

According to IDNFinancials data, IMPC’s stock price at the end of today’s (2/5) first session was seen weakening 170 points or 4.57% to IDR 3,550 per share. Within the past year, it has been declining 120 points or 3.27% lower. (KR/ZH)