KUALA LUMPUR (March 30): Berjaya Assets Bhd (BAssets) has proposed a bonus issue of 1.28 billion warrants on the basis of one warrant for every two shares held.
In a filing with Bursa Malaysia, BAssets said the warrants will be issued at no cost to the entitled shareholders.
The group said the exercise price of the warrants has been fixed at 35 sen apiece.
This price represents a 12.5% discount to the theoretical ex-bonus price of its shares of 40 sen, based on the five-day volume weighted average market price of its shares up to March 28 (the last practicable date) of 42 sen.
The exact quantum of cash proceeds to be raised by the group during the exercise period would depend on the actual number of warrants exercised, said BAssets.
However, it said for illustration purposes, if all the warrants are exercised at the exercise price of 35 sen, the total gross proceeds to be raised would be about RM447.7 million, to be used as working capital for the group.
BAssets said the bonus issue is expected to be completed by the second quarter of 2018.
BAssets shares fell by half sen or 1.19% to 41.5 sen yesterday for a market capitalisation of RM1.06 billion. — theedgemarkets.com
For more stories, download EdgeProp.my pullout here for free.
TOP PICKS BY EDGEPROP
Taman TTDI Jaya, Shah Alam
Shah Alam, Selangor
Casa Sutra, Alam Nusantara
Setia Alam/Alam Nusantara, Selangor
Country Heights Kajang (Taman Bukit Impiana)
Country Heights, Selangor
Bandar Puncak Alam
Bandar Puncak Alam, Selangor
DO MORE WITH EDGEPROP.MY
-
Read newsRead the latest news and in-depth coverage of Malaysian property - what's hot, what's not and more
-
Search listingsFind residential or commercial properties for sale, rental and auction by licensed agents
-
Search new projectsCheck out over 200 new project launches and offers by developers in Klang Valley and other locations
-
Get property market insightsGet your personalized property report (including estimated home value) and find past transacted data
-
Get home design ideasZING.my can help you get started on your renovation project. Find hundreds of design portfolios by professionals in Malaysia
-
Partner with usAre you a real estate agent or home professional? List your properties or portfolio with us for free and get quality leads.