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NewsHot Stock Astral Asia jumps 22 sen on bonus issue
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Hot Stock Astral Asia jumps 22 sen on bonus issue
by Cals Wed 27 Jan 2016, 20:38
- Hot Stock
[size=28]Astral Asia jumps 22 sen on bonus issue
By Chong Jin Hun / theedgemarkets.com | January 27, 2016 : 10:06 AM MYTKUALA LUMPUR (Jan 27): Astral Asia Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 1.35) rose 22 sen or 15% after the diversified company proposed a bonus share issue.
Astral Asia's businesses include oil palm plantation, and construction. Its shares rose to RM1.72 at 9:53am to become Bursa Malaysia's third-largest gainer.
The stock saw 760,100 shares transated. At RM1.72, Astral Asia has a market value of RM206.4 million.
Yesterday, the company said it planned to undertake a bonus issue of 539.99 million new shares on the basis of nine bonus units for every two existing shares held.
Astral Asia said the exercise, which was expected to be completed in the second quarter of this year, would dilute earnings per share due to an expanded share base.
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