AUTOMOTIVE batteries producer GPA Holdings Bhd is proposing a share split, involving the subdivision of every one existing share of RM1 each into 10 new shares of 10 sen each.
The company said in a statement the actual number of new GPA shares to be issued pursuant to the proposed share split would be determined based on the issued and paid-up share capital of GPA as of the entitlement date.
Based on the issued and paid-up capital of 40 million RM1 shares in GPA as of June 30, the issued and paid-up capital of the company pursuant to the proposed share split would be RM40mil, comprising 400 million GPA shares.
“The proposed share split will make the GPA shares more affordable.
“It is also expected to increase the liquidity of the GPA shares on Bursa Malaysia,” the company said.
In addition, the proposed share split would enable the existing shareholders of GPA to have a larger number of shares held in GPA while maintaining their equity interest, it added.
GPA said it would file the applications with Bursa Malaysia and the Securities Commission within one month from Thursday. – AFX-Asia
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