Malaysia Smelting (SGX:NPW, KLSE:MSC) plans to issue 420 million bonus shares on a 1-for-1 basis, doubling its issued share capital to 840 million shares, according to a Wednesday filing on the Singapore Exchange.
The tin producer said the bonus shares would be issued at no cost and without capitalizing reserves.
Based on the five-day volume-weighted average price of 2.2548 ringgit, the theoretical ex-bonus price is 1.1274 ringgit. The lowest VWAP over the past three months was 2.0661 ringgit, implying a post-issue price of 1.0331 ringgit.
Price (SGD): S$0.78, Change: S$+0.045, Percent Change: +6.16%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.