Jakarta - PT Metrodata Electronics Tbk (MTDL) plans to conduct a stock split with a ratio of 1:5.

MTDL Metrodata Corporate Secretary Randy Kartadinata said the number of shares before the stock split was 2.45 billion shares valued at Rp50 per share and became 12.27 billion shares with a new nominal value Rp10 per share.

"This stock split aims to increase the company's stock trading liquidity on the IDX and make the stock price more affordable for investors, especially retail investors," in information disclosure on Wednesday (24/11).

According to Randy, the number of retail investors increased significantly during the pandemic in the Indonesian capital market, which is expected to increase the number of company shareholders.

To realize the plan, the company will hold an EGMS on December 16, 2021.

The schedule for trading shares with new nominal values on the Exchange will be announced around January 2022.