This article first appeared in The Edge Financial Daily on July 10, 2019

KUALA LUMPUR: Focus Point Holdings Bhd, whose share price has soared some 171% so far this year, is planning a one-for-three bonus issue involving up to 55 million new shares to enhance the marketablity and trading liquidity of its shares.

In a filing yesterday, Focus Point said the proposed bonus issue will be issued as fully paid on the basis of one bonus share for every three existing shares held at an entitlement date to be fixed.

Should the bonus shares be issued in full, the potential dilution of the shares of the eyewear retailer would result in its net assets per share being reduced to 26 sen from 35 sen currently.

As at July 1, the group had an issued share capital of RM40.096 million, with 165 million shares, it said. The group has no convertible securities to date. Focus Point shares closed unchanged at 45 sen yesterday, giving it a market capitalisation of RM74.25 million.