Salcon climbs 5% on news of bonus issue - Business News - News Summed Up

Salcon climbs 5% on news of bonus issue - Business News


KUALA LUMPUR: Shares of Salcon Bhd climbed almost 5% in early trade Tuesday after announcing its bonus issue in the ratio of one-for-four to shareholders. Salcon has proposed a one-for-four bonus issue of up to 169.42 million new shares to reward its shareholders and boost liquidity of the shares. The group is also proposing to issue up to 338.85 million free warrants on the basis of one warrant for every two shares held. Salcon said the proposed free warrants issue would not raise any immediate funds as the warrants will be issued at no cost to the entitled shareholders. Salcon said the bonus issue will be implemented concurrently with the proposed free warrants issue.


Source: The Star April 17, 2018 02:03 UTC


Loading...