KUALA LUMPUR (April 27): Inta Bina Group Bhd is planning to issue 147.2 million free warrants to shareholders.

In a bourse filing, the group said it will be issuing the warrants on the basis of one warrant for every four existing ordinary shares held at an entitlement date to be disclosed later.

The company added the exercise price for the warrants stands at 40 sen apiece, which will translate into gross proceeds of RM58.88 million.

It noted that such proceeds may be used to fund capital expenditure and/or working capital requirements.

It also announced that it will be establishing an employees’ share option scheme (ESOS) of up to 15% of its total share capital. The ESOS will have a tenure of five years from the date of implementation.

Assuming all the warrants and ESOS options are exercised, its share capital could increase to 846.38 million shares, from 535.26 million shares currently.

The proposals are subject to shareholder approval and will be balloted at an extraordinary general meeting.

The warrants issue and ESOS are not conditional upon each other.

UOB Kay Hian Securities (M) Sdn Bhd is the adviser for the proposals — which are expected to be completed by the third quarter of 2021.

Shares in Inta Bina closed unchanged at 32 sen, valuing it at RM171.28 million. It saw 1.57 million shares traded.