OpenSys proposes one-for-two bonus issue of shares

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KUALA LUMPUR (Aug 24): OpenSys (M) Bhd, whose share price soared to an all-time high of RM1.09 last Friday, has announced its proposal of a one-for-two bonus issue.

The proposed bonus issue will expand the company's issued share capital by 148.95 million shares to 446.84 million shares from 297.98 million shares currently.

"The board has resolved that the bonus shares will be issued as fully paid shares at nil consideration, without any capitalisation from the company's reserves," OpenSys said.

Post-exercise, OpenSys' net asset per share will be adjusted from 20.74 sen apiece to 13.8 sen apiece.

Shares in OpenSys slid two sen or 1.83% to close at RM1.07, valuing the automated banking solution provider at RM318.74 million. The counter has gained 189% this year, bringing its price-to-earnings ratio to 27.7 times.

Edited by Kathy Fong