KPS shares rise 4.76% on proposed bonus issue

PETALING JAYA: Kumpulan Perangsang Selangor Bhd’s (KPS) share price rose 4.76% this morning on news of its proposed bonus issue.

At 11.32am, the stock was 4.76% or 6 sen higher at RM1.32 with 375,800 shares traded. KPS shares gained 1 sen or 0.8% to close at RM1.26 on some 2,500 shares done last Friday.

KPS has proposed to undertake a bonus issue of up to 38.38 million new KPS shares on the basis of one bonus share for every 13 existing shares held.

The proposed bonus issue will be effected by capitalising a total of up to RM38.38 million from its share premium account.

KPS said it is intended to reward the the shareholders for their loyalty and continued support to the group. The bonus issue exercise is expected to be completed by the second quarter of 2018.