PETALING JAYA: JF Technology Bhd
has proposed a bonus issue of up to 388.01 million free warrants on the basis of two warrants for every five existing shares held.
In a statement, the semiconductor test solutions provider said the warrants would be issued at no cost to entitled shareholders and carry a tenure of five years.
The entitlement date will be determined and announced later.
JF Technology said the exercise could raise gross proceeds of between RM308.4mil and RM310.4mil, assuming full exercise of the warrants at an illustrative price of 80 sen each.
The proceeds will be used for the group’s working capital and capital expenditure requirements.
The final exercise price will be determined later at a discount or premium of not more than 20% to the five-day volume-weighted average market price of JF Technology shares before the price-fixing date.
