Mayora to split stocks<\/p>\n
JAKARTA (JP): PT Mayora Indah, a publicly listed food
\nprocessing company, will split its shares to improve the
\nliquidity of its trading on local exchanges, an executive said.<\/p>\n
The company's director of finance, Hermawan Lesmana, said
\nyesterday that the stock split will cut the prices of the shares
\nto Rp 500 (22 U.S. cents) each from Rp 1,000 at present.<\/p>\n
He said the stock split plan was approved by shareholders in
\nan extra-ordinary meeting yesterday.<\/p>\n
In addition to the stock split, Hermawan also announced the
\ncompany's plan to distribute two bonus shares for every one
\nexisting share.<\/p>\n
Hermawan said that the bonus shares will be issued from the
\ncompanies' agioes (gains from the increase in share prices during
\ntheir initial public offering), not from the company's retained
\nearnings.<\/p>\n
Mayora Indah, which is listed on the Jakarta Stock Exchange,
\nis 52.64 percent owned by PT Unita Branindo, 5.08 percent by PT
\nMayora Investama, 42.01 percent by public investors and the
\nremainder by a number of parties with an ownership of below one
\npercent.<\/p>\n
Hermawan said that this year, Mayora Indah is projected to
\ngain a net profit of Rp 52 billion.<\/p>\n
The company's net profit decreased to Rp 22.3 billion in the
\nfirst six months of 1995 from Rp 24 million for the same period
\nlast year, even though its sales increased to Rp 152 billion from
\nRp 120 billion.(31)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/mayora-to-split-stocks-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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