08 January 2015

Mah Sing shareholders give nod to rights, bonus issues

  08 January 2015

KUALA LUMPUR: Mah Sing Group Bhd shareholders have approved the renounceable rights issue with free warrants and 1-for-4 bonus issue at the company’s extraordinary general meeting today.

In a statement, Mah Sing said the issuance, which was expected to raise up to RM630 million for future expansion of the company, was to reward long-term shareholders.

Group managing director/group chief executive, Tan Sri Leong Hoy Kum, said the exercise was part of the group’s prudent management of capital structure to maintain a healthy and optimum capital base.

“It also aims to improve the liquidity and marketability of the shares.

“We also want to reward our loyal shareholders by providing them with the opportunity to participate in an equity offering where they can acquire new Mah Sing shares at a discount of at least 20 per cent to the prevailing market prices,” he said.

He said the group expected the trading liquidity and marketability of its shares on the Main Market of Bursa Securities to improve further given the larger share base.

~ By BERNAMA


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