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%
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