Siam Makro completes 20-for-1 stock split aimed at affordability

Siam Makro Plc has completed a planned 20-for-1 split of its share par value to 50 satang from 10 baht.

The change was approved at the Sept 20 extraordinary shareholders' meeting and registered with the Commerce Ministry on Friday, the company told the Stock Exchange of Thailand (SET) that day.

As a result, the number of MAKRO shares will increase to 4.8 billion from 240 million.

Since the SET's minimum size for each trading order is 100 shares, a stock split generally makes a high-priced stock more affordable to small investors and increase its trading activity.

Siam Makro, which operates the Makro cash-and-carry retail chain, was acquired by CP All Plc in April in a deal worth 188.88 billion baht. CP All was reported early last month to be considering diluting its 98% holding in Siam Makro.

Shares of MAKRO closed Friday on the SET at 622 baht, up two baht, in trade worth 19.8 million baht. At the closing price, the shares will be worth 31.10 baht each after the share split.