Unlock stock picks and a broker-level newsfeed that powers Wall Street.
Indonesian cigarette firm Sampoerna to split stock to raise liquidity
JAKARTA, April 7 (Reuters) - Indonesia's largest listed company, PT Hanjaya Mandala Sampoerna Tbk, will split its shares to increase its liquidity and attract more retail investors, the company said on Thursday.
The cigarette maker, which is 92.5 percent-owned by Philip Morris International Inc, will split each of its shares into 25 shares, it said in a filing to the Jakarta stock exchange.
The company will coordinate with several parties, including the stock exchange, on the schedule of the stock split, it added.
Sampoerna shares last traded at 99,500 rupiah ($7.56) each. ($1=13,155.00 rupiah) (Reporting by Eveline Danubrata and Fransiska Nangoy; Editing by Clarence Fernandez)
Terms and Privacy Policy