iDimension up 4% on bonus issue

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KUALA LUMPUR (July 1): iDimension Consolidated Bhd rose as much as 4% after investors bought shares of the IT software firm to be entitled for its bonus warrants.

iDimension's (fundamental: 1.45, valuation: 0.3) bonus issue involves up to 247.46 million warrants on the basis of one warrant for every two existing shares held. The company announced that the ex-date for exercise falls on this July 13.

Today, iDimension shares rose as much as 0.5 sen to 13.5 sen at 2.38pm with with some 30 million shares changing hands. This made the stock the fifth most-actively traded entity across the bourse.

A dealer told theedgemarkets.com that the buying trend for iDimension shares began last Monday (June 29) after the company announced the ex-date for the bonus issue on Friday (June 26).

"The exercise price of the warrants at 10 sen per warrant is deemed attractive," he said.

(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.)