JAKARTA (Indonesia Today) – PT Matahari Putra Prima Tbk (MPPA) intends to split its stock with ratio of one for 10, from current Rp500 per share to Rp50.
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The company said after stock split, its paid-up and issued capital will be lower to Rp278.83 billion from current Rp2.79 trillion.
The stock split is part of Matahari’s business restructuring. It also plans to transfer some business units to PT Multipolar Tbk as the controlling shareholder. After assets transfer, Matahari’s cash and cash equivalent will increase to Rp6.1 trillion.
Matahari said this liquidity excess will be used to pay debt and interim dividend to shareholders. (hans@theindonesiatoday.com)