Jan 9, 2012

Hero Supermarket holds 1:10 stock split

PT Hero Supermarket Tbk (HERO) has obtained an approval for a 1:10 stock split on last Friday.
In an official statement sent to Indonesia Stock Exchange last week, the stock split is aimed to boost stock liquidity and trading.
Post the split, Hero's stock nominal will be downsized to Rp50 a share with public shares of 188.43 million shares.
The extraordinary general meeting of shareholders also approved the appointment of Dato John Coyle as commissioner and received a resignation of Director Sugiyanto Wibawa and Commissioner Colin Tan.
Hero operates 533 outlets with more than 13,700 employees. As of Desember 2011, the retailer operates 39 Giant hypermarkets, 131 Hero outlets and Giant supermarket, 231 Guardians, and 132 Starmart convenience stores. 

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: