Komarkcorp proposes share split after rally

Komarkcorp proposes share split after rally
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KUALA LUMPUR (Dec 24): Komarkcorp Bhd, whose share price has surged 288% year to date, has proposed to undertake a share split to increase affordability and trading liquidity.

In a filing with Bursa Malaysia today, the company proposed to undertake a share split involving the subdivision of every 10 existing ordinary shares in the company into 18 shares.

Under the maximum scenario, the group would see 461.03 million shares subdivided into 829.85 million split shares.

“The proposed share split is expected to result in the split shares being more affordable in order to appeal to a wider group of public shareholders and investors,

“It may also improve the trading liquidity of the shares by increasing the number of shares in issue,” it said.

Komarkcorp is one of the companies in which Fintec Global Bhd holds a substantial stake. Fintec owns a 16.31% stake in Komarkcorp. Seacera Bhd, AT Systematization Bhd, Saudee Group Bhd, VSolar Group Bhd are also companies that Fintec owns a stake in through its wholly-owned unit Asiabio Capital Sdn Bhd. 

Komarkcorp’s share price dropped four sen or 3.88% to 99 sen today, valuing the company at RM248.09 million.

Kathy Fong