Shareholders Mitra Keluarga Karyasehat Approve 10:1 Stock Split
On the latest shareholder meeting (conducted Wednesday 23 September) it was decided that Indonesian hospital operator Mitra Keluarga Karyasehat can go-ahead with its planned 10:1 stock split. The company wants to reduce its shares’ nominal value by ten in order to boost liquidity as shares become more affordable. Meanwhile, shareholders also agreed to boost the company’s paid up capital. After Siloam International Hospitals, Mitra Keluarga Karyasehat is Indonesia’s second-largest hospital operator.
Mitra Keluarga Karyasehat currently owns 12 hospitals in the Greater Jakarta area, Surabaya and Tegal (all on the island of Java).
In March 2015, the company conducted an initial public offering (IPO) on the Indonesia Stock Exchange. Its shares were traded at an initial price of IDR 17,000 per share. Despite weak sentiments (caused by looming US monetary tightening, low commodity prices, sluggish global economic growth, and China’s hard landing), shares of Mitra Keluarga Karyasehat managed to rise 37.85 percent since its trading debut (whereas the benchmark Jakarta Composite Index has fallen 18.81 percent so far this year).
Stock Quote Mitra Keluarga Karyasehat (MIKA)
Stock Performance Mitra Keluarga Karyasehat versus Jakarta Composite Index (JKSE)*:
* Normalized stock prices, 24 March 2015 = 100
Further Reading:
• IPO Mitra Keluarga Karyasehat on the Indonesia Stock Exchange
• Company Profile of Mitra Keluarga Karyasehat