JAKARTA - Siloam hospital manager, PT Siloam International Hospitals Tbk plans to split the value (stock split) of SILO shares. Through this action, the member company of the Lippo Group owned by conglomerate Mochtar Riady hopes to increase the liquidity of SILO's stock trading on the Indonesia Stock Exchange (IDX).
"Through this stock split, SILO's share price will also become more affordable for retail investors, so it is hoped that this will increase the number of company shareholders," Siloam management wrote in a statement, Friday, February 11.
According to the plan, the stock split ratio of SILO shares is 1:8 so that the par value of the shares from the previous Rp100 becomes Rp12.5. The number of shares will also change from 1.62 billion shares to 13.01 billion after the stock split.
Siloam's management added that the stock split plan will be implemented by taking into account the applicable regulations and the provisions of the Articles of Association, namely through the approval of the General Meeting of Shareholders (GMS). "Therefore, the company plans to seek approval from the GMS which will be held on March 22, 2022," added Siloam's management.
As additional information, if this action is approved by the GMS, the company will submit an application for listing the SILO shares resulting from the stock split on March 25, 2022. Thus, the SILO shares resulting from the stock split can be traded in April 2022.
As for citing trading data so far this year, SILO's shares varied at the highest level of Rp. 8,750 per share, with the lowest level of Rp. 7,500 per share.
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