Unilever Indonesia Plans Stock Split to Appeal to Retail Investors
September 30 2019 - 6:54AM
Dow Jones News
By Ben Otto
Unilever Indonesia (UNVR.JK) is planning a stock split to make
its shares attractive to more investors, the company said
Monday.
"The company considers the current [Unilever Indonesia] share
price quite high," Corporate Secretary Sancoyo Antarikso said in a
statement. "We hope that with this stock split the price [of
shares] will become more affordable for most retail investors."
The consumer-goods maker, majority owned by Unilever NV (UN),
said it would consider a proposal for a split at a shareholders
meeting. It didn't specify a split ratio or a timeline for the
move.
The company's share price is among the highest of firms listed
on the Indonesian stock exchange.
Shares last traded down 1.1% at 46,500 rupiah, giving Unilever
Indonesia a market capitalization of IDR354.032 trillion ($24.99
billion).
Year to date, shares are up 2.4%, ahead of the broader market's
0.4% decline.
Write to Ben Otto at ben.otto@wsj.com
(END) Dow Jones Newswires
September 30, 2019 06:39 ET (10:39 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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