DSSA Plans 1:25 Stock Split After Geothermal Deal and Spectrum Win

JAKARTA, Investortrust.id — PT Dian Swastatika Sentosa Tbk or DSSA, the Sinarmas-controlled conglomerate with a broad footprint across energy, mining, telecommunications, and digital infrastructure, plans a 1:25 stock split on Friday, Jan 30, 2026 in Jakarta to improve share liquidity and accessibility amid tightening regulatory scrutiny on free float and ownership transparency, as the group advances major corporate actions across energy and digital infrastructure.

The company said the stock split would be executed after shareholder approval at an Extraordinary General Meeting scheduled for Tuesday, Mar 11, 2026. The corporate action would increase the number of outstanding shares to 192.63 billion from 7.70 billion.

DSSA said the nominal value of each share would be reduced to Rp 1 from Rp 25, while shareholders’ ownership value and rights would remain unchanged. The company said the adjustment would make its shares more affordable and encourage broader market participation.

Management said the decision was driven by the company’s high share price, which had limited accessibility for retail investors and constrained trading liquidity. DSSA shares were trading around Rp 94,000, with a historical peak of Rp 118,000.

The company said the stock split was expected to increase daily trading volume, expand the shareholder base, and support a more optimal price formation in the market. It added that improved liquidity would help strengthen investor perception of the company’s long-term prospects.

The move comes as Indonesia’s capital market faces heightened scrutiny following reforms pushed by the Financial Services Authority, or OJK, after MSCI froze index-related changes for Indonesian securities in late January. OJK has since pledged accelerated adjustments to free-float methodology, stricter ownership disclosure above and below the 5 percent threshold, and a minimum free-float requirement of 15 percent for listed companies, measures aimed at strengthening liquidity, price formation, and global investability.

Corporate Expansions

The planned stock split followed a series of strategic corporate actions undertaken over the past year. In October 2025, DSSA, through its subsidiary PT DSSR Daya Mas Sakti, formed a strategic partnership with PT FirstGen Geothermal Indonesia to develop geothermal projects with an initial potential capacity of 440 megawatts.

The partnership, valued at Rp 977.55 billion, covered six regions including West Java, East Nusa Tenggara, Jambi, West Sumatra, and Central Sulawesi. DSSA said the projects would be managed through newly established holding and operating companies to ensure structured development and execution.

DSSA said the geothermal collaboration reinforced its commitment to renewable energy and long-term value creation amid Indonesia’s energy transition agenda. The company said geothermal assets would provide stable cash flows and diversify earnings beyond its traditional business lines.

Separately, DSSA strengthened its digital infrastructure footprint through its internet service arm MyRepublic. In October 2025, PT Eka Mas Republik secured spectrum in the 1.4 GHz band for Regions 2 and 3, covering areas outside Java with growing demand for broadband connectivity.

Industry observers said the spectrum allocation positioned MyRepublic to accelerate high-speed internet expansion in Sumatra, Bali, Nusa Tenggara, Kalimantan, and Sulawesi. DSSA said the move would support long-term revenue growth as digital adoption increased in regional markets.

DSSA said the combination of the stock split, renewable energy expansion, and telecommunications growth reflected a broader transformation strategy. The company said it aimed to balance mature cash-generating assets with new growth engines while maintaining shareholder value.