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Singapore Investment


 VIS 0120 VISDYNAMICS HOLDINGS BHD rises more than 18% after fixing price for bonus issue plan

KUALA LUMPUR (May 15): Visdynamics Holdings Bhd was among the top 10 gainers on Bursa Malaysia and surged 18.26% to a high of 68 sen in the morning trade on Monday (May 15), after the automated test equipment manufacturer set the exercise price of its bonus issue plan at 50 sen per warrant.

At 10.31am, the stock pared its gains at 67.5 sen — up 10 sen or 17.39% — giving it a market capitalisation of RM119.3 million.

Trading volume was 4.56 million shares, more than 12 times the 362,900 shares traded last Friday.

The exercise price of 50 sen per warrant represents a premium of 19.86 sen or approximately 27.75% to the adjusted volume weighted average market price (VWAP) of 39.14 sen.

“[This is] calculated based on the five-day VWAP of Visdynamics shares up to and including May 11, 2023 of 58.71 sen, being the market day immediately prior to the price-fixing date,” according to the group’s filing last Friday.

In February, the group had proposed a bonus issue of up to 87.6 million new shares on the basis of one bonus share for every two existing shares, followed by a bonus issue of warrants involving up to 65.7 million warrants on the basis of one warrant for every four shares.

Visdynamics registered a net loss of RM3.365 million for the first quarter ended Jan 31, 2023 (1QFY2023) — after making profit for nine consecutive quarters — dragged by lower revenue amid decrease in the sales of machines.

In comparison, the group recorded a net profit of RM2.78 million in 1QFY2022.

Its quarterly revenue tumbled 80% to RM2.91 million from RM14.51 million a year earlier.


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