Public Bank proposes record 4-for-1 bonus issue

“We expect its share price to see an immediate upward reaction. This will help sustain Public Bank’s rerating," an analyst said.

PETALING JAYA: Public Bank Bhd has proposed to undertake a bonus issue on a four-for-one basis, which is a record for banks in Malaysia, as it aims to reward existing shareholders for their loyalty and continuous support.

It said yesterday the proposed bonus issue, which would entail the issuance of up to 15.52 billion new shares, was arrived at after considering the potential adjustments to the share price arising from the proposed bonus issue.