Texmaco's firms split stocks<\/p>\n
JAKARTA (JP): Three listed subsidiaries of the Texmaco Group,
\nPT Polysindo Eka Perkasa, PT Texmaco Jaya and PT Texmaco Perkasa
\nEngineering, have all split their shares to improve the liquidity
\nof their trading on the domestic exchanges.<\/p>\n
The stock split, which became effective on Tuesday, caused a
\nsharp delusion in the prices of the shares, which respectively,
\ndropped by around 50 percent.<\/p>\n
Marimutu Sinivasan, the chairman of the Texmaco Group, said
\nyesterday that the 50 percent drop in the prices of the three
\ncompanies' shares was mainly caused by the share split.<\/p>\n
\"The price drop has nothing to do with fundamental factors of
\nthe companies,\" he said.<\/p>\n
Polysindo, a manufacturer of polyester fiber, chips and yarns,
\ncut the par value of its shares to Rp 500, from Rp 1,000 at
\npresent.<\/p>\n
PT Texmaco Jaya, a manufacturer of textile products, and
\nTexmaco Perkasa, a producer of textile-related machines, also
\nhalved the nominal value of their shares to Rp 500.<\/p>\n
Sinivasan said that the split of the stocks was approved by
\nshareholders in their recent meetings.(hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/texmacos-firms-split-stocks-1447893297",
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