Medco plan for stock split 4 to 1 share

JAKARTA (TheInsiderStories) – PT Medco Energi Internasional Tbk (IDX: MEDC) filed notice to the Financial Services Authority that it will request shareholders to approve a 4 for 1 stock split at the forthcoming June 16th 2017 Annual General Meeting of Shareholders. The company is also finalizing its proposal to the OJK for the rights issue approved by shareholders in the Extraordinary General Meeting in September 2016. Hilmi Panigoro, President Director of Medco Energi, said that this stock split reflects the company’s confidence in the underlying value of the assets and will be followed later this year by a rights issue.