Stock split is near, Petrosea saw 9.51% jump today
JAKARTA. PT Petrosea Tbk (PTRO) saw 9.51% or 1,875-point increase at today’s morning session, arriving at IDR 21,600 per share.
Previously, at last week’s closing bell, PTRO was seen standing at IDR 19,725 per share. This Prajogo Pangestu’s newest acquisition reportedly peaked at IDR 22,000 per share today (2/12), its highest in the last 52 weeks.
PTRO’s transaction volume until today’s morning session was reported at 6.27 million shares. For the record, price-to-earning (P/E) ratio is currently at 304.18.
According to IDNFinancials data, PTRO recently announced its stock split plan with 1:10 ratio. This corporate action, said the management, is intended to make the shares more affordable for investors.
“The more affordable stock price is expected to drive the demand for the company’s shares,” added the management of PTRO in the official statement.
The Extraordinary General Meeting of Shareholders concerning this plan will take place next Monday (16/12). After the stock split, the shares’ value will drop to IDR 5 per share from the initial IDR 50.
Within the past month, PTRO has shown 22.9% increase. However, since the beginning of this year, PTRO has already reported 280.6% surge in price. (KR/ZH)