Malaysia Airlines shares jump 12.5% after going ex
KUALA LUMPUR: Shares of Malaysian Airline System Bhd (MAS) rose to a high of 36 sen or 12.5% early Thursday after it went ex following its corporate exercise to issue 13.36 billion rights shares.
At 9.39am, it was up 3.5 sen to 35.5 sen. There were 21.22 million shares traded at prices ranging from 32.5 sen to 36 sen.
The FBM KLCI was down 5.63 points to 1,712.02. Turnover was 92.03 million shares valued at RM179.49mil. There were 89 gainers, 217 losers and 184 counters unchanged.
MAS had fixed its rights issue of 13.36 billion rights shares at 23 sen each, which would see the national carrier raising up to RM3.07bil.
The renounceable rights issue was on the basis of four rights shares for every one existing ordinary share of 10 sen each in MAS as at 5pm on May 6 at an issue price of 23 sen per rights share.
The rights shares will start trading on May 7. The date of despatch of the prospectus and provisional allotment letter of offer is next Wednesday.
The last day and time for acceptance, renunciation and payment is May 21. The rights shares will cease quotation on May 14.
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