Publicly listed diversified group PT Astra International Tbk (ASII) is planning to split the nominal value of its shares under a 1:10 ratio.
The proposal for stock split would be brought to an extraordinary meeting of the company’s shareholders in April or May for approval, Astra International Corporate Secretary Gita Tiffany Boer said during a public expose here on Tuesday. By splitting the shares, retail investors could afford to buy them and the company could increase the liquidity of its shares in the stock exchange, he said.
Last year, Astra International posted a net profit of Rp17.8 trillion, up 24 percent from Rp14.4 trillion the year before. The company plans to set aside part of its profit last year to pay a dividend of Rp1,380 per share.
PT Astra International currently controls 53.8 percent of the country’s automobile market. In the January-November 2011 period Astra International sold 438,111 units, more than a half of domestic car sales which reached 813,856 units, making it the country’s biggest retailer.
The proposal for stock split would be brought to an extraordinary meeting of the company’s shareholders in April or May for approval, Astra International Corporate Secretary Gita Tiffany Boer said during a public expose here on Tuesday. By splitting the shares, retail investors could afford to buy them and the company could increase the liquidity of its shares in the stock exchange, he said.
Last year, Astra International posted a net profit of Rp17.8 trillion, up 24 percent from Rp14.4 trillion the year before. The company plans to set aside part of its profit last year to pay a dividend of Rp1,380 per share.
PT Astra International currently controls 53.8 percent of the country’s automobile market. In the January-November 2011 period Astra International sold 438,111 units, more than a half of domestic car sales which reached 813,856 units, making it the country’s biggest retailer.
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