State-owned coal miner PT Tambang Batubara Bukit Asam (PTBA) is
studying a plan to split existing shares without any dilution in
ownership.
“We are still assessing the plan to do a stock-split,”
Hananto Budi Laksono, Bukit Tambang’s corporate secretary, said in a
statement submitted to the Indonesia Stock Exchange (IDX) on Thursday.
Stock splits usually occur when a company’s share price has become too expensive for many investors.
Market capitalization and ownership will remain the same, but the prices and the number of shares owned will change.
Shares
of Bukit Asam traded at Rp 20,000 at Thursday’s close, up 1.5 percent
from the previous day. With a market capitalization of Rp 46.08
trillion, Bukit Asam saw its shares soaring 45.3 percent since Oct. 10,
2011. (mtq)
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