Education player HELP International Corp Bhd has proposed a three-for-five bonus issue as part of a corporate exercise to better reflect its scale of operations and enhance liquidity.
The proposal will see the issuance of up to 53.27 million shares of 50 sen each, increasing HELP’s share base by some 60%, from its present base of 88.8 million shares.
The stock gained 29 sen or 7.7% to RM4.05 yesterday, making it the fourth highest gainer on the local bourse. The bonus issue will see its net asset per share reduced to 66 sen from RM1.09 as at end-October 2009.
HELP has also proposed to increase its authorised share capital to RM250 million comprising 500 million shares from the present RM50 million comprising 100 million shares to accommodate the proposed bonus issue.
This article appeared in The Edge Financial Daily, July 20, 2010.
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