Happy Hapsoro's RAJA Shares to Undergo Stock Split, Becoming Cheaper and More Retail Investor-Friendly
Jakarta – PT Rukun Raharja Tbk (RAJA), an issuer affiliated with conglomerate Happy Hapsoro, is preparing a corporate action in the form of a 1:5 stock split. This step aims to increase share trading liquidity while expanding access for retail investors, which has been considered limited due to the relatively high share price.
The plan was conveyed by the company through an information disclosure to the Indonesia Stock Exchange (BEI). Once the stock split is implemented, the nominal value of RAJA shares will change from Rp25 per share to Rp5 per share. In line with this change, the number of issued and fully paid shares will also increase fivefold, from 4,227,082,500 shares to 21,135,412,500 shares.
RAJA’s management explained that the 1:5 stock split ratio was determined after considering the company’s share price movement, which has experienced a significant increase in recent years. The company considers the current share price to be at a relatively high level, making the minimum investment value less affordable for some investors, particularly retail investors with limited capital.
The information disclosure noted that RAJA’s share price at the close of trading on 12 May 2026 was at Rp4,170 per share. At that price, investors needed to prepare a substantial amount of funds to purchase one lot of RAJA shares. According to management, this condition was one of the main considerations for carrying out the share split.
“This share split is also carried out considering that the Company’s current share price is at a relatively high level, namely Rp4,170 per share based on the closing price as of 12 May 2026, which results in the minimum investment value for 1 lot of the Company’s shares being less affordable for some investors,” management wrote in its disclosure.
In trading on 18 June 2026, RAJA shares closed at Rp3,870 per share. At this price, the minimum purchase value for one lot of shares reached approximately Rp387,000. If the stock split is effectively implemented, the theoretical share price will be in the range of Rp774 per share, based on that closing price. This means investors would only need to prepare around Rp77,400 to purchase one lot of RAJA shares.