JAKARTA - The company owned by conglomerate Hary Tanoesoedibjo, PT MNC Digital Entertainment Tbk (MSIN) will conduct a 1:20 stock split. The company will seek approval from shareholders at the extraordinary general meeting of shareholders (EGMS) which is planned for July 19, 2022.
"Supported by the results of MSIN's financial performance in Q1 and a strong growth rate after the consolidation of digital content and content, strong investor interest continues, making MSIN's shares one of the most sought-after stocks on the IDX," said MSIN President Director, Hary Tanoesoedibjo in a statement. written, quoted Wednesday 20 June.
Hary said, by conducting a stock split, his party hopes this can further encourage liquidity, reach, and access to retail investors who want to take part in the company's digital ambitions and growth journey.
Due to the high interest of retail investors as indicated by the recent spike in stock prices as a result of the consolidation of MNC Media's digital assets into MSIN, and shares trading at lower prices may provide attractiveness to MSIN shares as retail investors grow in Indonesia . The company's share price closed at Rp4,990 on June 24, 2022.
Therefore, the company's management believes that the 1:20 stock split is appropriate to increase stock liquidity, support capital market growth and reduce entry barriers, making it more attractive for public investors to have the opportunity to participate in the growth of one of the largest and most popular digital content and entertainment groups. integrated in Southeast Asia.
The stock split plan will be implemented in accordance with the provisions of the company's articles of association, with shareholder approval and subject to the prevailing laws and regulations on the Indonesia Stock Exchange (IDX).
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