PETALING JAYA: Astino Bhd
has proposed to undertake a bonus issue of up to 219.3 million new ordinary shares on the basis of four bonus shares for every five existing shares held on an entitlement date to be determined and announced later.
In its exchange filing, the company, which produces metal roofing sheet and other building-related material, said the proposed exercise was to reward its existing shareholders as the proposed bonus issue would enable them to have greater participation in the equity of the company.
In addition, the exercise was also expected to enhance the marketability and trading liquidity of Astino shares on the Main Market of Bursa Securities, thereby providing opportunity for greater participation from a broader range of investors.
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