Speaking at a press conference in Jakarta on Tuesday (19/09/23), Chief Executive Officer of state-owned bank BNI, Royke Tumilaar announced that shareholders of BNI have voted in favor of a 2-for-1 stock split to increase the number of its retail investors, according to reporting from Jakarta Globe.
“The 2:1 ratio will allow us to expand our investor base by offering a more affordable trading price to individual or retail investors,” he said, adding that the planned stock split aims to enhance the liquidity of BNI’s stock.
As a result of this decision, the nominal value of BNI’s series A stock will be halved to IDR 3,750 per share, while series C stock will be priced at IDR 187.5 per share, say Jakarta Globe.
Royke said that in the past three years until August 31, BNI’s stock has witnessed a remarkable 79.9-percent increase, reaching IDR 9,175. It also recorded a year-on-year rise of 7.6-percent, outperforming the composite share price index of the Indonesia Stock Exchange (IDX), which contracted by 3.1-percent.
Jakarta Globe report that in the first eight months of the year, daily transactions of BNI stock on the IDX averaged IDR 256-billion (approx. USD 16.6-million).
Source: Jakarta Globe