JAKARTA. PT Supreme Cable Manufacturing & Commerce Tbk (SCCO), an electrical cable manufacturer operating since 1972, will carry out a stock split.

SCCO management said that the nominal share value split would be carried out with a ratio of 1:4. So the number of company shares will increase to 822.33 million shares, from the previous 205.58 million shares.

Meanwhile, the nominal value of SCCO shares will change to IDR 250 from the previous IDR 1,000 per share. Previously, on December 22 2023, the company obtained approval in principle from the Indonesian Stock Exchange (BEI).

The end of trading in SCCO shares with the old nominal value on the regular and negotiated market is scheduled for March 7, 2024. Meanwhile, the start of trading of shares with the new nominal value will be held on March 14, 2024.

In today's trading, SCCO's share price moved down 125 points or 1.51% to IDR 8,150 per share. Meanwhile, in the last year of trading, the company's share price fell 75 points or 0.91%. (KR/LM)