JAKARTA – PT Hillcon Equity Management (HEM) has increased its shareholding in PT Hilcon Tbk (HILL) in anticipation of the company’s stock split plan, which will change the nominal value of shares from IDR 100 to IDR 20, with a 1:5 ratio, taking effect next week.

Hersan Qiu, President Director of HILL, announced that HEM purchased 361,800 shares at a price of IDR 2,600 per share. "The purpose of the transaction is to increase investment," he said in a disclosure on Monday (10/3).

Following the transaction, HEM’s stake increased to 1.75 billion shares (59.53%) from 1.75 billion shares (59.52%). The share purchase occurred last week (5/3).

According to the stock split schedule, the last day of trading with the old nominal value in all markets will be on March 13, 2025. Trading with the new nominal value will begin on March 14, 2025, in the regular and negotiated markets, and on March 18, 2025, in the cash market.

Post-stock split, HEM's shares are expected to reach 8.77 billion, assuming the current total shares are 1.75 billion. (LK/ZH)