Barito Pacific to launch 1-for-2 rights issue

JAKARTA (TheInsiderStories) – PT Barito Pacific Tbk (IDX:BRPT), a diversified energy and petrochemical group, is planning to launch 1-for-2 rights issue, in which the holder of one unit of old shares will have the right to purchase 2 new shares. The plan is pending on the approval of the company’s annual and extraordinary shareholders meeting, scheduled for Jun 8, 2017.

The company’s Director Henky Susanto said in a filing to the Indonesian Stock Exchange (IDX) that the stock split is aimed to improve the liquidity of the company’s shares trading. On Friday, the company’s shares closed up 7.02 percent at Rp3,200. The stock split will result in reducing the company’s shares nominal value to Rp500 per unit from Rp1,000 per unit previously. (*)