Apr 13, 2011

Astra Otoparts to split stock at 1:5 ratio

Auto parts manufacturer PT Astra Otoparts Tbk (AUTO) is keen to split its stock nominal price with a ratio of 1:5 As a result.
"Stock split will improve the stock liquidity. The stock split will ensure Astra Otoparts in the market," said AUTO Corporate Secretary Robby Sani said to Indonesia Stock Exchange.
Astra Otoparts's outstanding shares is 771 million units. PT Astra International Tbk controls 96.8% and public shareholders hold the remaining stake.
According to him, the stock split will be discussed during annual of shareholders' general meeting scheduled on April 27.
The company recorded Rp1.1 trillion net income last year, a 48.5% jump from Rp768.2 billion a year earlier. Revenue reached Rp6.2 trillion from Rp5.2 trillion. 

Disclosure: No position at the stock mentioned above.

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