Borneo Aqua Harvest up 2.54% on bonus issue plan

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KUALA LUMPUR (Sept 5): Shares in Borneo Aqua Harvest Bhd rose 2.54% this morning after it proposed a bonus issue of up to 939 million shares, on the basis of one bonus share for every existing share, which shall be wholly capitalised from the share premium of the company.

At 9.16am, Borneo Aqua rose 3 sen to RM1.21 with 926,200 shares traded.

The exercise will involve between RM60.89 million and RM93.9 million being capitalised, leaving the group with a remaining share premium of between RM85.99 million and RM119 million.

Assuming a maximum scenario, the group will have an enlarged share capital of 1.88 billion shares, worth RM478.27 million.