Unilever Indonesia to call EGM to approve director change and stock split

Unilever Indonesia to call EGM to approve director change and stock split

Unilever Indonesia intends to split its stocks to enable individual investors to buy at a more affordable price, according to a report published by the Jakarta Globe.

“The company considers the price of the stocks quite high. We hope with this stock split it will become more affordable for most retail investors,” Unilever Indonesia Director and Corporate Secretary, Sancoyo Antarikso, said in a statement, per Jakarta Globe. “In addition, the stock split is also expected to support growth at the IDX since it will increase Unilever’s stock trading liquidity.”

The company will present its plan at an extraordinary general meeting of shareholders, although a date is yet to be set for this. At the same meeting, the company will seek approval for a change in Directors, Amparo Cheung Aswin has resigned and Rizki Raksanugraha is in line to step into the role.

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