JAKARTA. PT Batavia Prosperindo Internasional Tbk (BPII) will initiate the stock split with 1:20 ratio to increase its stock liquidity.

With this ratio on hand, BPII’s outstanding shares will rise to 10.3 billion, when previously, they only consist of 515.49 million shares.

As of now, BPII has obtained principle approval from Indonesia Stock Exchange (IDX) to conduct the stock split. “The rationale behind this stock split plan is to make the company’s stock price more affordable for investors, thus increasing the liquidity in stocks, as well as the number of retail investors,” added the management of BPII in the information disclosure.

The stock split will take place after BPII secures an approval from its shareholders during Extraordinary General Meeting of Shareholders. The meeting has been scheduled to take place on April 16, 2024.

According to IDNFinancials data, BPII’s stock price has shrunk 500 points or 4.61% within the past year to IDR 10,350 per share. However, within the past 5 years, it has actually soared 3,850 points or 59.23%. (KR/ZH)