Jan 4, 2011

Lonsum aims to hold stock split

Palm oil company PT PP London Sumatra Indonesia Tbk (Lonsum) plans to split its nominal stock.In a public statement to Indonesia Stock Exchange today, Lonsum has added a stock plan agenda in its extraordinary of general shareholder's meeting scheduled on January 28 2011.
Lonsum said the company will submit a completed agenda on January 13 2011. Lonsum today retreated 0.79% to Rp12,600 per share. Assuming the stock split will be done at 1:5 or 1:4, Lonsum stocks will be around Rp2,520 or Rp3,150 per share. Is it cheap enought to draw interest from investor when one of Salim Group's unit to hold another IPO? Please read following story of the next IPO from Salim Group.

Disclosure: No position at the stock mentioned above.

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