KUALA LUMPUR (Sept 6): Berjaya Assets Bhd (BAssets) has proposed to split one existing share into two shares in a move to improve the trading liquidity of its shares.

The proposed share split is expected to result in a halving of the market price per share, although it is not expected to have any impact on the total market value of the subdivided shares, BAssets said in an announcement today.

The entitlement date is to be announced later, the group said via a letter by its principal adviser, Affin Hwang Investment Bank.

The share split will enlarge the group’s share base from a total of 1.19 billion to 2.38 billion shares.

Assuming none of the group’s outstanding 339.89 million warrants is converted into new shares, its enlarged share capital after the share
split will be unchanged from its current RM1.45 billion, it said.

However, assuming all the warrants are exercised, the enlarged share capital of BAssests will be RM1.79 billion, with a total of 3.06
billion shares.

Meanwhile, its gearing is expected to be lowered to 0.38 times from 0.39 times as its net assets per share will be reduced to 0.95 times from 1.91 times.

Barring any unforeseen circumstances, the application for the share split is expected to be submitted within a month from today, BAssests
said.

Shares in Berjaya Assets closed up 1 sen at RM1.24 apiece today, giving the group a market capitalisation of RM1.43 billion.