PETALING JAYA: The Securities Commission (SC) and Bursa Malaysia has announced a temporary relief measure allowing eligible listed issuers to obtain mandated shareholder approval at a general meeting to undertake rights issue exercises.
In a joint statement, the capital market regulators said this temporary flexibility to allow expedited right issue exercises by public listed companies (PLCs) and listed real estate investment trusts (REITs) would be introduced via an enhanced rights issue framework, which would allow eligible PLCs and REITs to issue new rights shares or units to their existing securities holders on a pro rata basis, up to 50% of the total number of issued shares or issued units.