PETALING JAYA: Microlink Solutions Bhd has proposed a bonus issue of up to 863.98 million shares on the basis of three bonus shares for every one existing share.
In a filing with Bursa Malaysia yesterday, the company said the entitlement date of the bonus issue will be determined later.
The rationale of the bonus issues is to award its shareholders and to increase the company’s trading liquidity.
Microlink said the theoretical ex-bonus share price of Microlink shares is estimated at 64 sen per share based on the 3-month daily volume-weighted average price (VWAP) at RM2.55.
Over the last year, shares in Microlink has risen more than three times from 78 sen on June 11, 2020, to RM2.54 at yesterday’s close.