MDKA to Implement 1:5 Stock Split

By Editorial Team 23/09/2019
Summary

PT Merdeka Copper Gold Tbk (MDKA) will carry out a stock split to increase the number of the company’s shares, using a 1:5 ratio. To perform it, the gold mining company will need clearance from the extraordinary general shareholders meeting (RUPSLB) on September 25, 2019. The stock split will hopefully increase the liquidity of the shares even further and open access to the retail investors.

At the moment, the total of MDKA’s shares circulating in the market is 4.38 billion. Around 867.37 million shares or 19.73 percent of the shares owned by PT Saratoga Investama Sedaya Tbk, while the common shares are approximately 2.01 billion or 45.92 percent of the total shares. The stock split decision is the response of the company’s stock price increase since the beginning of this year. MDKA’s share price is Rp 6,250 per share on Thursday (9/19) or up 77.14 percent year-to-date. It is the most significant increase since the company underwent an IPO in 2015 with Rp 2,000 per share.

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