Inco set for a 10-for-1 stock split Mon Dec 17, 2007 12:14am EST
JAKARTA, Dec 17 (Reuters) - Shareholders of the Indonesian unit of nickel producer Inco Ltd have approved a 10-for-1 stock split to increase liquidity, the company said on Monday. After the split, the nominal value of PT International Nickel Indonesia's INCO.JK shares would be 25 rupiah each, against 250 rupiah ($0.267), said Indra Ginting, Inco's corporate secretary. "We will provide further details on the tentative schedule in early January. Share prices will be adjusted one day before the stock split," Ginting told a news conference, adding the split still needed to be approved by the Indonesia Stock Exchange. The firm's shares were trading down 0.84 percent at 94,200 rupiah late morning on Monday, outperforming a 1.6 percent dip in the main index .JKSE. PT Inco, wholly owned by Brazil's Companhia Vale do Rio Doce (VALE5.SA: Quote, Profile, Research)(RIO.N: Quote, Profile, Research) through Canada's Inco Ltd, expects to produce between 165-170 million pounds of nickel in matte this year despite an 11-day strike that caused a production loss of 5 million pounds of nickel in November. "We may surpass the (2005) record production this year at between 165-170 million pounds," Arif Siregar, Inco's president director said. The firm posted record production of 168 million pounds in 2005. Inco produced 58,100 tonnes or 128.1 million pounds of nickel in matte in January-September this year, up from 50,400 tonnes, or 111.1 million pounds in the same period 2006. Last year, it produced 157.9 million pounds, or 71,700 tonnes of nickel in matte. The company posted a four-fold rise in net profit to $972.55 million in the first nine months of this year from a year ago, amid strong global demand for nickel. (Reporting by Mita Valina Liem and Nury Sibli, writing by Fitri Wulandari, editing by Ed Davies) Kunjungi situs http://www.info-saham.com untuk informasi seputar saham. DILARANG KERAS MEMOSTING OPINI PRIBADI TENTANG POLITIK DI MILIS INI. Silahkan lakukan itu di milis [EMAIL PROTECTED] [EMAIL PROTECTED] untuk berhenti dari milis saham [EMAIL PROTECTED] untuk bergabung ke milis saham Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/saham/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/saham/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
