PT Bank Central Asia Tbk (IDX: BBCA) decided to take a corporate action to split its outstanding shares (stock split).
This observes the development of the Indonesian capital market and the increasing interest of retail investors to invest in the Indonesia Stock Exchange.
The corporate action was approved by the Extraordinary General Meeting of Shareholders (EGMS) which was held electronically on Thursday (23/9/2021).
The EGMS approved the stock split corporate action with a ratio of 1 : 5 (1 existing share was split into 5 new shares). Read also: Investors flock to BCA, inject hundreds of billions of rupiah in capital!
The par value per BBCA share is currently Rp62.5, while the par value per BBCA share after the stock split will be Rp12.5. For information, BBCA’s share price at the time this press release was issued was around Rp. 32,000 per share.
“We see that retail investors, including young investors in the Indonesian capital market, have a strong interest in investing in BBCA shares. With this corporate action, it is hoped that BCA’s share price will be more affordable for retail investors. The share split was also based on BCA’s commitment to support developments. Indonesia’s capital market” said the President Director of PT Bank Central Asia Tbk, Jahja Setiaatmadja.
As is known, the stock split process follows the applicable procedures and conditions. After obtaining shareholder approval through the EGMS, the company will coordinate with the relevant authorities to process the stock split which is expected to be completed in October 2021.