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Euro Holdings proposes second bonus issue in less than six months

KUALA LUMPUR (March 24): Office furniture maker Euro Holdings Bhd has proposed a bonus issue of up to 3.21 billion shares, on the basis of four bonus shares for every one share held.

This marks the office furniture maker’s second bonus issue in less than six months. On Oct 8 last year, the group announced  the issuance of up to 534.6 million bonus shares on the basis of two bonus shares for one share held.

In a filing today, Euro Holdings said the  entitlement date for the latest bonus issue will be announced later.

The group said based on the five-day volume weighted average price of Euro Holdings shares up to March 16 of RM4.7019, the theoretical adjusted reference price of the bonus shares was 94 sen.

The group's share capital will increase to 4.01 billion shares following the bonus issuance, from 801.9 million shares, it added.

Euro Holdings said the bonus issue is expected to be completed by the second quarter of 2021.

Euro Holdings' shares closed down five sen or 1.01% at RM4.90 today, bringing a market capitalisation of RM3.93 billion. Some 2.19 million shares were traded.

Over the past-one year, the stock has leapt by over 60 times from eight sen.


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