KUALA LUMPUR (July 29): LEAP Market-listed Metro Healthcare Bhd has proposed to undertake a bonus issue of new shares on the basis of two bonus shares for every one existing share on an entitlement date to be determined later.

The women healthcare provider said in a bourse filing that the exercise will entail the issuance of up to 452.25 million new shares in the group.

It said the proposed bonus issue is to reward its existing shareholders for their continuous support and confidence in the company.

It is also aimed to increase the number of Metro Healthcare shares held by the existing shareholders, while maintaining their percentage of equity interest held in the company, and enhance the marketability and trading liquidity of Metro Healthcare shares with a larger issued share capital base.

Barring any unforeseen circumstances, the group expects the proposed bonus issue to be completed by the fourth quarter this year.

Metro Healthcare settled unchanged at RM1.05 today, valuing the group at RM215.84 million.