Perak Transit proposes bonus issue

PETALING JAYA: Perak Transit Bhd’s (PTrans) proposal to undertake a bonus issue of up to 433.6 million new shares is expected to encourage a warrant conversion for bonus-share entitlements, bringing in additional capital for the company.

According to TA Research, the group has decided to issue new shares as a bonus, with one bonus share being issued for each PTrans share that is currently owned as of a future date that will be specified.