KUALA LUMPUR (July 9): Focus Point Holdings Bhd, whose share price has soared 171% so far this year, is planning a one-for-three bonus issue involving up to 55 million new shares, to enhance marketablity and trading liquidity of its shares.
In a bourse filing today, Focus Point said the proposed bonus issue will be issued as fully paid, on the basis of one bonus share for every three existing shares held, at an entitlement date to be fixed.
Should the bonus shares be issued in full, the potential dilution in the shares of the eyewear retailer would result in its net asset per share being reduced to 26 sen, from 35 sen currently.
As at July 1, the group had an issued share capital of RM40.096 million, with 165 million shares, it said. The group has no convertible securities to-date.
Focus Point shares closed unchanged at 45 sen today, giving it a market capitalisation of RM74.25 million. Year to date, the stock has climbed 28.4 sen from 16.6 sen.
http://www.theedgemarkets.com/article/focus-point-proposes-1for3-bonus-issue
