JAKARTA - PT Indosat Tbk (ISAT) will split the stock value (stock split) with a ratio of 1:4, meaning that one old share will be split into 4 new shares with updated value. The approval will be obtained during General Meeting of Shareholders on September 24, 2024.

Reski Damayanti, Corporate Secretary of ISAT, confirmed that the company will hold a stock split in which a share worth IDR 100 per share will be divided into 4 series B shares of IDR 25 each.

“The number of shares after the stock split will be multiplied to 32.25 billion from 8.06 billion shares,” Damayanti said in the information disclosure quoted Monday (12/8).

According to Damayanti, this corporate action is scheduled to take place on October 14 after securing approval from shareholders. Further, she admitted that the decision of this plan is made after considering poor stock liquidity of ISAT.

As of July 2024, ISAT’s shareholders consist of Ooredoo Hutchison of 65.64%, Muhammad Buldansyah 0.003%, the Government 0%, PT Perusahaan Pengelola Aset (PPA) 9.63%, PT Tiga Telekomunikasi Indonesia (TTI) 8.33%, and the public 16.37%.

Last Friday (9/8), ISAT was seen closing at IDR 10,200 per share, with total transaction volume and frequency of 2.79 million and 2,441 transactions worth IDR 28.56 billion.

The market capitalisation of this Indeks52 constituent clocks up to IDR 82.23 trillion. (LK/ZH)