Lippo Securities to reverse stocks

Bisnis.com,12 Mei 2011, 09:17 WIB

JAKARTA: A stock brokerage controlled by Riady family PT Lippo Securities Tbk announced a reverse stock with its nominal price to IDR1,000 from IDR500 per share on June 27 2011. The reverse stock is designed to anticipate several upcoming corporate actions and strengthen its capital structure, said a reverse stock prospectus published today.PT Ciptadana Securities is acting as a standby buyer for odd lot, following the reverse stock.Pre-reverse stock, Lippo Securities's total equity is 2.22 billion shares. Post such corporate action, the brokerage equity will narrow to 1.11 billion shares. Pacific Asia Holdings Ltd currently owns 51.16% stake in Lippo Securities and public holders own the remaining. (wiw)

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