Elsoft hits record high on share split, bonus issue proposals

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KUALA LUMPUR (Aug 29): Elsoft Research Bhd reached its all-time high of RM3.39 today after announcing a one-for-five bonus issue and two-for-one share split.

At 3:51pm, the counter was trading at RM3.39, up 18 sen or 5.61%, with 2.43 million shares traded, giving the group a market capitalisation of RM927.61 million.

The counter was the third largest gainer on Bursa Malaysia.

Elsoft announced the bonus issue and share split yesterday.

It said the bonus issue of up to 56.4 million shares was to reward shareholders and would be capitalised from the share premium account.

The share split, meanwhile, is intended to enhance the marketability and trading liquidity of its shares.

Elsoft said the share split would be implemented upon completion of the bonus issue by the fourth quarter of this year.