JAKARTA: PT Surya Cipta Media Tbk plans to conduct stock split with ratio of 1:5, after the other company under the same group decided to split its stock.
The company operating SCTV broadcasting station will seek approval from its shareholder to implement the stock split, according to Surya Cipta Media President Director Fofo Sariaatmadja.
“The stock split is intended to make the company’s stock more affordable for retail investors and also to boost liquidity of stock trading,” he said in the information disclosure Thursday (7/19/2012).
The SCMA-coded company will hold shareholders meeting in August or September.
PT Elang Mahkota Teknologi Tbk (EMTK) is the major shareholder with share ownership of 85.26%.
As earlier reported, PT Indosiar Karya Mandiri Tbk (IDKM), which is also under EMTK group, has decided to conduct stock split with ratio of 1:5.
In today’s second session trading, the SCMA-coded share declined 0.93% to IDR10,600 and capitalized the market by IDR20.67 trillion. (t06/arh)