BMRI - Stock split ratio 1:2

BMRI - Stock split ratio 1:2Bank Mandiri (BMRI) will officially to do stock split with ratio of 1:2. According to information, prior to stock split, the nominal value of the company's shares was IDR250 per share with a total of 46,666,666,666 shares. Post stock split, the nominal value of the Company's shares is IDR125 per share with a total of 93,333,333,332 shares. (Source : Cnbc Indonesia). Comment : Post stock split, we expect BMRI shares liquidity will increase and become more affordable to all investors as the latest close BMRI shares has reached IDR10,525/shares. Using the ratio, our fair value expectation for BMRI share price equal to around IDR5,625 and has brought 5.8% of gain from our latest call on Feb23 to yesterday closing. We expect the bank to book od 1Q23 result, post solid Feb23 earnings. Cum Date is 3/4/23 while today trading will be the initial of shares trading with new nominal value.