JAKARTA - PT Gunung Raja Paksi Tbk (GGRP) will cut its shares’ nomimal value to IDR 140 from IDR 500, effective starting from November 5, 2024.

In the information disclosure quoted Friday (11/10), Fedaus, Director of Public Relations of GGRP, confirmed that the refund following this capital reduction, by lowering nominal value of the shares by IDR 360, will take place on November 8, 2024.

“Stock transaction with new value will begin on November 5, 2024,” Fedaus said.

This decreased nominal value of GGRP’s shares had also been approved during Extraordinary General Meeting of Shareholders on July 26, 2024. The modification of its articles of association regarding this capital reduction had also been verified by the Minister of Law and Human Rights on September 29, 2024.

The last day of transaction with old nominal value (IDR 500) in the regular and negotiation market is set to October 31, 2024, with the first day of transaction with the updated face value of IDR 140 on November 4, 2024.

Yesterday (10/10), GGRP was seen arriving at IDR 660 per share at the closing bell. Transaction volume reached 305,400, recorded within 10 transactions worth a total of IDR 201.58 billion. (LK/ZH)