JAKARTA - PT Panca Budi Idaman Tbk (PBID) will split its stock with a ratio of 1:4, meaning that one old share will be split into 4 new shares with a new face value. This plan had gained approval from the Extraordinary General Meeting of Shareholders earlier this week (13/5).

Lukman Hakim, Director of PBID, mentioned that after the stock split, the face value will shrink to IDR 25 from IDR 100 per share. In contrast, the number of shares will multiply to 7.5 billion from 1.87 billion shares.

The last day of trading with the old value will fall on May 23, while the trading of PBID’s shares with the updated value in the regular and negotiation market will start on May 31, and in the cash market, June 4.

As of April 2024, the controllers claimed 83.03% of 1.87 billion shares, and non-controllers had another 16.97%. The ultimate shareholder is known to be PT Alphen Internasional Corporindo, owning 1.4 billion shares. (LK/ZH)