KUALA LUMPUR (Aug 18): Central Global Bhd has opted to downsize its proposed two-for-one bonus issue to just one bonus share for every share held.

This will entail an issue of up to 108 million bonus shares from the 216 million proposed previously, the group said in a filing.

As such, a subsequent proposal for issuance of free warrants — on the basis of one warrant for every two shares held — is also downsized to a cap of 108 million warrants, from 162 million previously, Central Global added.

Central Global said it currently still has an allocation of 17 million placement shares yet to be placed out to potential investors.

The group currently has 91 million issued shares and has no convertible securities outstanding.

The group, which is involved in manufacturing of specialised industrial tapes and label stock, is 30%-owned by Chew Hian Tat, who emerged as a substantial shareholder in February.

Shares of Central Global rose one sen or 0.67% to close at RM1.50, valuing the group at RM136.5 million.