Bright Packaging proposes 1-for-4 bonus issue

PETALING JAYA: Bright Packaging Industry Bhd proposes a one-for-four bonus issue of up to 55.49 million new shares.
The company told Bursa Malaysia that the proposed bonus issue will be capitalised from its share premium and retained earnings at an amount of RM0.50 per bonus Share, being the reference to its par value.
Besides rewarding the existing shareholders, it noted that the exercise will increase the number of shares held and possibly enhance trading liquidity of its shares via a greater participation of investors.
The bonus issue is expected to be completed in the third quarter of 2017.
Bright Packaging share rose half a sen to close at 31 sen on some 15,000 shares traded, giving it a market capitalisation of RM50.92 million.