By Ben Otto

Unilever Indonesia (UNVR.JK) is planning a stock split to make its shares attractive to more investors, the company said Monday.

"The company considers the current [Unilever Indonesia] share price quite high," Corporate Secretary Sancoyo Antarikso said in a statement. "We hope that with this stock split the price [of shares] will become more affordable for most retail investors."

The consumer-goods maker, majority owned by Unilever NV (UN), said it would consider a proposal for a split at a shareholders meeting. It didn't specify a split ratio or a timeline for the move.

The company's share price is among the highest of firms listed on the Indonesian stock exchange.

Shares last traded down 1.1% at 46,500 rupiah, giving Unilever Indonesia a market capitalization of IDR354.032 trillion ($24.99 billion).

Year to date, shares are up 2.4%, ahead of the broader market's 0.4% decline.

Write to Ben Otto at ben.otto@wsj.com

(END) Dow Jones Newswires

September 30, 2019 06:39 ET (10:39 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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