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ios developer account:Quick take: Techbond hit all-time high on 5-for-4 bonus issue

admin2021-03-1493

KUALA LUMPUR: Shares in Techbond Group Bhd jumped to a record high of RM1.73 this morning after announcing a bonus issue of up to 431.25 million new shares on the basis of five bonus shares for every four existing shares. The industrial adhesive and sealants manufacturer added 15.33%, or 23 sen to RM1.73 with over 9.8 million shares traded.Techbond said the entitlement date of the bonus issue shares would be determined later. Managing director Lee Seng Thye said the bonus issue would potentially improve the trading liquidity of Techbond’s shares without affecting the company’s market capitalisation. “This will also encourage greater participation by investors, as well as potentially broadening the shareholder base,” he said. Lee expects the liquidity of its shares to improve and this will encourage greater participation by investors. Barring any unforeseen circumstances and subject to approvals by the authorities, the proposed bonus issue is expected to be completed in the first quarter of this year.The company was listed on Bursa Malaysia on Dec 5, 2018.
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