PETALING JAYA: Perak Transit Bhd’s (PTrans) proposal to undertake a bonus issue of up to 433.6 million new shares is expected to encourage a warrant conversion for bonus-share entitlements, bringing in additional capital for the company.
According to TA Research, the group has decided to issue new shares as a bonus, with one bonus share being issued for each PTrans share that is currently owned as of a future date that will be specified.
The research house stated in a report that the purpose of the planned bonus issue is to thank current shareholders for their ongoing support of PTrans.
TA Research’s noted that its opinion of the group’s initiative is favourable as the warrants will provide the company with additional capital upon conversion.
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