JF Technology proposes 2-for-3 bonus issue

PETALING JAYA: JF Technology Bhd is proposing a bonus issue exercise on the basis of two bonus shares for every three existing shares held.
The group told Bursa Malaysia that it will entail the issuance of 84 million bonus shares, which will be effected by way of capitalising RM8.4 million from its share premium account.
JF Technology said the proposed bonus issue will increase its issued share capital to a level which would be more reflective of its current scale of operations, business growth, profitability and assets employed.
It will also enlarge the number of JF Technology shares held by the existing shareholders without increasing the percentage equity interest, as well as provide the opportunity to increase/encourage the trading liquidity of its shares in the market and greater participation by investors.
The stock was trading at RM2.11, or three sen higher, as at 2.57pm on some 517,400 shares done.