KUALA LUMPUR: Milux Corp Bhd’s shares surged to its highest in over 15 years after the company announced a three-for-one bonus issue to reward its shareholders.
The home and kitchen appliances manufacturer jumped 27.78%, or 60 sen to RM2.76 with 1.33 million shares done.
Milux has proposed a bonus issue of up to 176.29 million shares on the basis of three bonus shares for every one share held.
The group said upon completion of the bonus issue, Milux’s issued share capital would rise to 235.06 million shares, from the current 58.76 million shares.
The value of the share capital will remain at RM59.07mil.
It said its share price adjusted for the bonus issue must not be below 50 sen based on the daily volume weighted average market price (VWAP) during the three-month period before the application date.
Based on the five-day and three-month volume weighted average market price of Milux shares up to the last practical date of RM2.1938 and RM2.2346, the theoretical ex-bonus share price are 54.85 and 55.87 respectively.
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