Stock Split 1:2, Mandiri Boss Hopes To Increase Stock Market Liquidity On IDX

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Mandiri's Annual General Meeting of Shareholders (AGMS) approved the implementation of a stock split with a ratio of 1:2.

Mandiri Main Director Darmawan Junaidi explained the decision was expected to encourage an increase in stock trading liquidity on the Indonesia Stock Exchange (IDX).

"This corporate action is also a form of Bank Mandiri's efforts to expand the distribution of share ownership through adjusting BMRI's share price so that it is able to achieve an optimal trading range to reach various layers of investors," Darmawan said in a press conference quoted on Wednesday, March 15.

For your information, according to the disclosure of information submitted on February 3, 2023, the stock split will be held no later than 30 days after the AGMS.

"This stock split decision has certainly gone through an in-depth process and study to help increase interest in investment, and at the same time, also increase financial inclusion in the country, in line with Bank Mandiri's commitment," added Darmawan.

Through this corporate action, Bank Mandiri will divide 1 old share with a nominal value of IDR 250 per share into 2 new shares with a nominal value of IDR 125 per share.

For Dwiwarna Series A shares, 1 share will be retained and the remainder will be calculated to add to the Series B shares owned by the Republic of Indonesia.