Globetronics up 2.35% on share split, bonus issue

PETALING JAYA: Globetronics Technology Bhd's share price jumped 13 sen or 2.35% this morning, after it proposed to undertake a share split and bonus issue to enhance the marketability and trading liquidity of its shares.
At 11.01am, the stock stood at RM5.66 with 912,100 shares changing hands, giving it a market capitalisation of RM1.58 billion.
The share split will involve subdivision of every one existing shares into two split shares, and a bonus issue of up to 96.65 million new split shares to be credited as fully paid-up.
The proposals are to be completed by the second quarter of 2018.