BNI Shareholders Approve 2:1 Stock Split to Attract Retail Investors
Jakarta. Shareholders of state-owned bank BNI (BBNI) have voted in favor of a 2-for-1 stock split to increase the number of its retail investors, Chief Executive Officer Royke Tumilaar announced on Tuesday.
"The 2:1 ratio will allow us to expand our investor base by offering a more affordable trading price to individual or retail investors," Royke said during a news conference in Jakarta.
Additionally, the planned stock split aims to enhance the liquidity of BNI's stock.
As a result of this decision, the nominal value of BNI's series A stock will be halved to Rp 3,750 per share, while series C stock will be priced at Rp 187.5 per share.
Royke said that in the past three years until August 31, BNI's stock has witnessed a remarkable 79.9 percent increase, reaching Rp 9,175. It also recorded a year-on-year rise of 7.6 percent, outperforming the composite share price index of the Indonesia Stock Exchange (IDX), which contracted by 3.1 percent.
In the first eight months of the year, daily transactions of BNI stock on the IDX averaged Rp 256 billion ($16.6 million).
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