Willowglen to undertake 1-for-1 bonus issue

PETALING JAYA: Willowglen MSC Bhd plans to undertake bonus issue to reward its shareholders for their loyalty and support, while enhancing the capital base of the company.
In a filing with Bursa Malaysia, the company said the proposed bonus issue will entail the issuance of 248 million new shares in the company on the basis of one bonus share for every one existing Willowglen share.
"The proposed bonus issue will increase the number of shares held by the shareholders while maintaining their percentage of equity interest in the company and improve the trading liquidity and marketability of the shares, thereby providing opportunity for greater participation from a broader range of investors," it said.
Willowglen's share price fell 2.36% or 3 sen to close at RM1.24 with a total of 129,600 shares traded.