JAKARTA: PT Astra International Tbk, which operates many businesses in Indonesia, plans to divide its existing stocks by 10.
"Astra International decides to discuss the plan of stock split in a shareholders' meeting," said Corporate Secretary Gita Tiffany Boer in a statement today.
She said that the company would hold a shareholders' meeting in April-May.
Stock split is usually completed when a company's share price has grown too high, considered too expensive for investors to buy in round lots.
Astra announced the plan, at the same time when it published its financial report today. The company's ASII-coded stock rose 0.66% to close at IDR68,700 today in Indonesia Stock Exchange.
The company, led by Prijono, operates in many lines including automotive, financial, agriculture and heavy equipment. (T04/aph)