JAKARTA – Shareholders of PT Supreme Cable Manufacturing & Commerce Tbk (SCCO) agree upon the stock split plan with a ratio of 1:4, meaning that 1 share will be split into 4 shares with the same value.

Risti Saka, Corporate Secretary of SCCO, mentioned that the new share value will be effective in the cash market on March 14. The old face value of IDR 1,000 will be changed into IDR 250 per share. After this corporate action, the number of shares will proliferate to 822.33 million from the initial 205.58 million shares.

The end of trading with the old face value is set on March 7, while the trading session with the new share in the regular and negotiation market will follow the next day, on March 8.

As of January 2023, the shareholder structure consists of PT Moda Sukma of 33.56%, PT Tutulan Sukma of 29.67%, Furukawa Electric Co. of 11.81%, and the public of 14.96%. The ultimate beneficial owner of the shares is Elly Soepono.

Last week (1/3), SCCO’s shares went up IDR 100 to IDR 9,750 from the initial IDR 9.650 per share. The highest transaction price was IDR 9,875, and the lowest was recorded at IDR 9,675 per share. (LK/ZH)