PT Kresna Graha Sekurindo Tbk, financial services company, plans to undertake a stock split with ratio of 1:4. One stock will be divided into 4 stocks.
The plan had been announced in the agenda of shareholders’ meeting. Through the shareholders’ meeting, the company will ask for agreement of shareholders on the corporate action in order to stimulate the stock to be more active in the market.
The stock split action is announced after the company had completed right issue II/2011 in June leading to IDR106.28 billion proceeds.
Through the right issue, about 20% of new stocks had been issued to shareholders with a ratio of 4:1 and a main shareholder, namely PT Kresna Prima Invest acted as a standby buyer.
In addition, the company will also request an approval from investors to allocate the last year’s net income to adjust total shares and dividend per share.
Per June, shareholders of the company are Kresna Prima Invest with 25.06%, UBS AG Singapore with 17.60%, PT Asuransi Jiwa Kresna with 17.42%, Irwan Arsyad with 4.22%, Suryandy Jahja with 1.54%, Michael Steven with 1.34%, Ingrid Kusumodjojo with 1.11%, and public with 31.72%.
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