Post-Stock Split, PTBA Shares Race 53%

THE SHARE price of PT Bukit Asam Tbk crept up 53% after taking stock split action in December 2017. Director of Bukit Asam Arviyan Arifin explained that the stock split or stock split done by the company last year had a positive impact. The stock-coded share price rose 53% after the company conducted the corporate action. "The stock price at the stock split of Rp2,240 rose 53% up to today," he said in the performance presentation at the Parliament Building, Jakarta, Monday (29/1). As is known, PTBA broke stock nominal value by 1: 5 ratio in December 2017. It was decided through extraordinary general shareholders meeting (RUPSLB) on November 29, 2017. Based on data from the Ministry of State Owned Enterprises (SOEs), PTBA posted a current profit of Rp4.39 trillion. Total assets of the company in 2017 amounted to Rp21, 80 trillion. At the opening of trading on Monday (29/1), PTBA stock price opened at the level of Rp3.320. That value fell ten points from last week's close of trading where the stock price closed at Rp.3330 per share. Based on data Bloomberg, PTBA stock price in the last 3 months was recorded rose 55.56%. The movement is at the lowest level Rp2.135 and the highest Rp3.440.• Source : (M. Nurhadi Pratomo)