JAKARTA - PT Elang Mahkota Teknologi Tbk (Emtek) plans to carry out a corporate action, namely a stock split, aka stock split. The company, which is the parent company of SCTV television station and one of the giant e-commerce investors Bukalapak, will ask for the blessing of shareholders in the near future.
Quoted from the information disclosure page of the Indonesia Stock Exchange (IDX), the issuer with the stock code of EMTK summoned its shareholders to attend the extraordinary general meeting of shareholders (EGM) on Monday, December 14, 2020, regarding the action of the parent company of the Indosiar television station.
"Meeting Agenda: approval of the plan to change the nominal value of the company's shares (stock split) and amendments to Article 4 of the Company's Articles of Association regarding authorized capital, paid-up capital and issued capital," the disclosure of information said, as quoted by VOI, Monday, November 23.
However, the stock split ratio is not yet known. EMTK's share price at the close of trading last weekend, Friday, November 22 was at the level of Rp8,350 per share.
In the past three months, the shares of the company owned by conglomerate Eddy Sariaatmadja have risen 63.73 percent. Meanwhile, if withdrawn throughout the current year, EMTK shares rose 49.81 percent.
As of October 31, 2020, the largest shareholder was still occupied by Eddy Sariaatmadja, namely 24.90 percent, followed by Susanto Suwarto 12.60 percent, and PT Adikarsa Sarana 11.50 percent. Furthermore, Piet Yaury 8.80 percent, PT Prima Visualindo 8.2 percent, The Northern Trust Company 8.10 percent, Fofo Sariaatmadja 5.40 percent.
Meanwhile, the shares owned by the public were 18.00 percent. As for treasury shares from the company's buyback, there was 2.50 percent.
For information, stock split by an issuer usually means that they see the stock price valuation is large or expensive so that stock trading is limited. With a stock split, it is expected that the stock spending will be a lot, and the shares will return to liquidity in the market.
Emtek itself was listed on the IDX in 2010. At that time, EMTK's share price at the beginning of the floor on the stock exchange was IDR 720 per share.
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