Bentoel splits stock

JAKARTA (JP); Listed investment company PT Bentoel Internasional Investama split on Monday the nominal value of its shares to Rp 50, from a previous price of Rp 500.

"The stock split will make the company share price more affordable to retail investors," the company said.

The company share price stood at Rp 8,500 prior to the stock split. After the split it closed at Rp 750.

The stock split, which has increased the company outstanding share volume to about 1.79 billion, would improve the company's share liquidity, according to the company.

Bentoel Internasional Investama, previously PT Transindo Multi Prima, said it booked a net income of Rp 412 billion in the first quarter this year. (udi)