JAKARTA. PT MNC Digital Entertainment Tbk (MSIN), an entertainment company under MNC Group, is preparing for a stock split with a ratio of 1:5.

Hary Tanoesoedibdjo, Executive Chairman of MNC Group, mentioned that said corporate action is intended to extend the scope of MSIN’s investors.

“I believe that this stock split will reflect our solid performance and positive future prospects,” said Tanoesoedibdjo in the official statement.

MSIN’s stock will then increase to 60.67 billion shares after this stock split. As of now, the company’s shares clock up to 12.13 billion.

Currently, MSIN had obtained principal approval from Indonesia Stock Exchange (IDX) on August 7, 2024. For next, the company will ask for approval from its shareholders regarding this corporate action through a meeting scheduled on September 23, 2024.

According to IDNFinancials data, MSIN’s stock price has went up 300 points or 5.83% until 3.09 PM WIB today (15/8) to IDR 5,500 per share.

Since the beginning of this year, MSIN itself has increased 83.33% or 2,500 points. (KR/ZH)