PT Bukit Asam Tbk (PTBA) conducted a stock split at the Opening of Trade on the Indonesia Stock Exchange on Thursday (14/12). The opening of Trade with new share price is done by PTBA President Director, Arviyan Arifin accompanied by President Director of PT Indonesia Stock Exchange, Tito Sulistio.
The stock split with the ratio of 1: 5 is done in accordance with the decision of Extraordinary General Meeting of Shareholders PT Bukit Asam Tbk on 29 November 2017 ago. After the stock split, Bukit Asam's share nominal value will change from Rp 11,200, - (share price at the close of trading December 13, 2017) to Rp 2,240 per share.
The stock split step was taken by the company to increase the liquidity of share trading on the Stock Exchange and expand the distribution of share ownership by reaching various layers of investors, as well as to support the "Yuk Nabung Saham" program. The strong commitment from Bukit Asam to improve the company's performance is a fundamental factor of the corporate action.
The opening of trade with the new share price also marked 15 years of Bukit Asam flooring on the Stock Exchange since December 23, 2002. At the beginning of the IPO, PTBA listed its shares amount to Rp 575. As time went, PTBA was able to gain shares with the highest price of Rp 24,900 January 4, 2011 and the weighted average price of Rp 7,256, -
Over the past 15 years, PTBA has received numerous awards, including the Top 50 Public Listed Companies Award in 2016 and The Most Trusted Company in 2015 from The Indonesian Institute for Corporate Governance (IICD).
Meanwhile, after holding the state-owned mining company, the market responded positively to PTBA shares. It can be seen from PTBA shares that experienced an increase from the closing of shares on November 28, 2017 amount to Rp 10,250, - to Rp 11,250, - on November 29, 2017 after the Extraordinary General Meeting of Shareholders amendment of the articles of association into a holding member of Holding of State Owned Mining Industries.