KUALA LUMPUR (July 30): China Automobile Parts Holdings Bhd (CAP) rose as much as 2 sen or 6.78% to 31.5 sen today after the company said it has obtained approval from the local exchange to issue bonus issues.

As at 3.57pm, CAP (fundamental: 1.95; valuation: 1.8) has pared some gains to settle at 30.5 sen, with 15.07 million shares traded, making it one of the most actively traded counters today.

CAP’s share price started trending upward from Tuesday (July 28), when it was trading at 28 sen.

The China-based automobile parts manufacturer has announced yesterday that Bursa Securities has, vide its letter dated July 29, 2015, approved the listing and quotation of up to 810 million new CAP shares to be issued pursuant to the proposed bonus issue.

In addition, up to 259.77 million additional warrants to be issued arising from the adjustment made to the existing warrants pursuant to the proposed bonus issue in accordance with the deed poll constituting the warrants dated Dec 13, 2013.

Further, the company can issue up to 259.77 million new CAP shares pursuant to the exercise of the additional warrants.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)