FGV bonus issue to allow shareholders rebalance their exposure

PETALING JAYA: Analysts view FGV Holdings Bhd’s recent proposed bonus issue as a positive move, as the exercise allows existing shareholders to rebalance their portfolio exposure in the company.

Last week, the agricultural and agri-commodities company proposed a bonus issue of up to 364.82 million new Islamic redeemable preference shares (RPS-i) on the basis of one FGV RPS-i for every 10 existing ordinary shares, with an issue price of 10 sen per share.