Hong Seng announces 1-for-1 bonus issue

KUALA LUMPUR: Hong Seng Consolidated Bhd has proposed to undertake a bonus issue of up to approximately 3.52 billion new ordinary shares on the basis of one bonus share for every one existing Hong Seng share held.

“The Board intends to undertake the proposed bonus Issue to reward the existing shareholders of the company for their loyalty and continuing support as the proposed bonus issue will increase the number of shares held by the shareholders with no cash outlay by them, while maintaining their percentage of shareholdings in the company,” Hong Seng said in a filing with Bursa Malaysia.