Southern Cable proposes 1-for-2 bonus issue of warrants

Southern Cable Group Bhd managing director Tung Eng Hai

KUALA LUMPUR: Southern Cable Group Bhd has proposed a bonus issue of up to 400 million warrants, on the basis of one warrant for every two existing ordinary shares held.

The cable and wire manufacturer said the proposal entailed the issuance of 400 million five-year warrants, with an option for holders to exercise one warrant into one new ordinary share of Southern Cable.