Milux jumps 29.63% to all-time high after announcing three-for-one bonus issue

KUALA LUMPUR (Jan 19): Shares in Milux Corp Bhd soared to a record high of RM2.80 this morning after announcing yesterday a bonus issue of up to 176.29 million shares on the basis of three bonus shares for every one share held.

At 9.13am, the household appliance manufacturer topped the list of gainers after it shot up 64 sen or 29.63%, giving it a market capitalisation of RM164.54 million. About 607,200 shares were traded, 16 times its 200-day average trading volume of 37,387.5 shares.

Yesterday, Milux told Bursa Malaysia that upon the completion of its bonus issue — slated for the first quarter of 2021 (1Q21) — its share capital would rise to 235.06 million shares from the 58.76 million shares at present.

The value of its share capital will remain at RM59.07 million.

The group said that based on the five-day and three-month volume weighted average market prices of Milux shares up to the last practical date of RM2.1938 and RM2.2346 respectively, the theoretical ex-bonus share prices are RM0.5485 and RM0.5587.

Source: TheEdgeMarkets