Oct 4, 2010

Charoen to hold 1:5 stock split

Publicly listed PT Charoen Pokhpand Indonesia Tbk (CPIN) plans to split its nominal stock with the ratio of 1:5.
In a public announcement published at Indonesia Stock Exchange (IDX) today, the company expects that the stock split may jack up shares trading liquidity.
Charoen President Director T. Thomas Effendy said the company's average trading volume in the last 3 months was 4.94 million shares.
In comparison, the average trading volume of companies at LQ45 Index were 2.26 billion shares.
Charon plans to seek approval from shareholders during extraordinary general meeting scheduled on October 19 2010. 

Disclosure: No position at the stock mentioned above. 

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