Thursday 28 Mar 2024
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D’Nonce Technology Bhd (-ve)
Shares of D’Nonce (Fundamental: 0.95/3, Valuation: 0.9/3) rose a cumulative 21.8% over the past holiday-shortened week to end at an all-time high of 53 sen yesterday, on heavy volume.

In March, the company has proposed a series of corporate exercises, including par value reduction, rights issue with warrants, bonus issue, and private placement with warrants. 

The par value reduction involves the cancellation of RM0.75 off the par value of each ordinary share of RM1.00. This will be followed by a 2-for-1 renounceable rights issue of up to 90.2 million new shares of RM0.25 each, together with 1 free warrant for every 1 rights share subscribed.

The proposed rights issue with warrants is expected to raise up to RM22.55 million. Proceeds would fund its expansion plans in Malaysia and Thailand, and for working capital.

D’Nonce mainly manufactures and distributes advanced packing material, electronics products, food related products and consumables. It is also a contract manufacturer of electronic components.

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This article first appeared in The Edge Financial Daily, on July 21, 2015.

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