Astino proposes four-for-five bonus issue

Employee of Astino Bhd working on roofing materials at the production floor of the group's plant.

PETALING JAYA: Astino Bhd has proposed to undertake a bonus issue of up to 219.3 million new ordinary shares on the basis of four bonus shares for every five existing shares held on an entitlement date to be determined and announced later.

In its exchange filing, the company, which produces metal roofing sheet and other building-related material, said the proposed exercise was to reward its existing shareholders as the proposed bonus issue would enable them to have greater participation in the equity of the company.