Lautan Luas splits shares<\/p>\n
JAKARTA (JP): Shareholders of chemical components distributor
\nand manufacturer PT Lautan Luas approved on Tuesday the company's
\nplan to split shares and increase its authorized capital.<\/p>\n
The company said the share split would enable trading of its
\nshares to be more liquid. In addition the share price would be
\nmore affordable to local investors.<\/p>\n
After the 1:2 split, the company would have a total of 780
\nmillion shares traded in the market.<\/p>\n
Lautan Luas shares gained Rp 50 on Tuesday to close at Rp
\n1,600.<\/p>\n
The shareholders also approved a proposal to increase the
\ncompany's authorized capital from Rp 200 billion (about US$24.7
\nmillion) to Rp 600 billion. The move is in anticipation of the
\nexpansion of its paid-up capital, which currently stands at Rp
\n195 billion.<\/p>\n
The company is expected to make a net profit of at least Rp 80
\nbillion this year, compared to last year's net profit of Rp 93
\nbillion.<\/p>\n
Lautan Luas, listed on the Jakarta and Surabaya Stock
\nExchanges, produces and distributes more than 1,000 types of
\nchemical components to more than 2,000 industrial customers.
\n(udi)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/lautan-luas-splits-shares-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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