PETALING JAYA: TIME Dotcom Bhd has proposed to issue two new free stocks for every one share held by investors, with the counter hovering at near record price levels.
The free shares will allow existing shareholders to hold more stocks without diluting their equity interest.
The move, the company said in a filing with Bursa Malaysia today, may also increase “the marketability and trading liquidity” of the counter.
“The entitlement date will be determined and announced at a later date, ” it said.
Time dotCom’s shares rose 33 sen to close at RM13.88 yesterday. The stock earlier this month hit a record high of RM14.52.