JAKARTA. PT Batavia Prosperindo Internasional Tbk (BPII), a business and management consultancy service provider, will issue a stock split with a ratio set to 1:20.

This corporate action will increase the number of BPII’s shares to 10.3 billion from the previous 515.49 million. Then, the value of each share after the stock split will shrink to IDR 5 each from the initial IDR 100 per share.

BPII has been granted approval from its shareholders to hold the stock split during the Extraordinary General Meeting of Shareholders on April 16, 2024. The company’s stock will use the new value in the regular and negotiation market on May 12, and in the cash market on May 15, 2024.

According to IDNFinancials data, BPII’s stock price was closed 25 points or 0.23% higher yesterday (24/4) to IDR 10,750. However, since the beginning of this year, it has increased 400 points or 3.86%.

As of now, Malacca Trust Pte. Ltd. controls 86.15% of BPII’s shares, while Rudy Johansen claims another 0.02%, followed by public investors of 9.70%, while the remaining are stored as treasury stock. (KR/ZH)