Indofood plans stock split

Indofood plans stock split

JAKARTA (JP): Publicly listed food giant PT Indofood Sukses
Makmur will carry out a five-for-one stock split to improve the
liquidity of the company's stock trading on the stock exchange.

Indofood president Eva Riyanti Hutapea said here on Thursday
that the stock split would reduce the nominal value of the shares
to Rp 100 from Rp 500 at present.

She said the recent issuance of Indofood Rp 1 trillion five-
year bonds was oversubscribed by almost 100 percent.

Investors subscribing to Indofood bonds include banks (25
percent of the total amount offered), insurance companies (24
percent), pension funds (18 percent) and others (33 percent), Eva
said.

The bonds, carrying a fixed coupon rate of 16 percent per
annum, will be listed on the Surabaya Stock Exchange on July 24.
(udi)