Feb 14, 2011

BTPN plans to hold 1:5 stock split

PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) plans to hold stock split with 1:5 ratio. BTPN’s Director Anika Faisal yesterday said the plan has been inserted into the agenda of the general meeting of shareholders.
BTPN’s stock price last weekend was closed stagnant at Rp12,550 compared to previous weekend that create market capitalization as much as Rp14.21 trillion.
On March 12, 2008, BTPN held an initial public offering (IPO) with price level at Rp2,850.
The company’s stocks slumped once to Rp1,000 when the financial crisis struck in November 2008. Yet, the price continues to rise and reached Rp15,150 on December 9, 20110.
BTPN this year also plans to issue Rp1 trillion senior bonds to balance long-term and short-term funding structures. The bonds issuance will enable the company to prepare liquidity support for credit expansion.
Besides that, BTPN will collect US$70 million loans from International Finance Corporation (IFC), a subsidiary of World Bank. In fact, BTPN has actually gained the US$70 million loans in 2009 but they had not collected it until this moment.
The bonds issuance is conducted to manage the balance between long-term and short-term funding sources.

Disclosure: No position at the stock mentioned above.

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