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Quick take: Pentamaster rises 3.8% on proposed bonus issue

KUALA LUMPUR: Pentamaster Corp Bhd’s share price rose 3.8% this morning on news of its proposed bonus issue.

The Penang-based automation solution provider rose 3.88%, or 14 sen to RM3.75, making it the second top gainer on Bursa Malaysia.

Pentamaster has proposed a one-for-two bonus issue of up to 158.29 million new shares to be undertaken on a date to be determined later.

The group said the proposed bonus issue is intended to reward its shareholders and enable them to have greater participation in the equity of the group while maintaining their percentage of equity interest.

In addition, the proposed exercise may possibly be able to encourage trading liquidity and marketability of its shares on Bursa Malaysia.

Source : TheStar