Friday 29 Mar 2024
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KUALA LUMPUR (Sept 20): Dufu Technology Corp Bhd, whose share price has more than doubled since mid-July, has proposed a one-for-two bonus issue to enhance the marketability and trading liquidity of its shares.

The exercise will involve the issuance of up to 87.74 million bonus shares, on the basis of one bonus share for every two existing shares held on an entitlement date to be determined later, it said in a stock exchange filing today.

The group's issued share capital will remain at RM87.74 million after the exercise, while the number of issued shares will increase to up to 263.21 million shares.

The group expects the proposal to be completed by the fourth quarter of 2018.

Dufu's shares, which were trading around 97 sen on July 13, jumped to as high as RM2.30 on Sept 7. Today, the stock closed one sen or 0.43% lower at RM2.34, valuing the group RM410.6 million.

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