Friday 29 Mar 2024
By
main news image

This article first appeared in The Edge Financial Daily on September 3, 2018

Taliworks Corp Bhd (-ve)

TRADING of shares in Taliworks Corp (fundamental: 0.85/3, valuation: 1.40/3) triggered our momentum algorithm yesterday for the sixth time this year. The group saw 7,022,800 shares traded, compared with its 200-day average of 835,397.5.

The water treatment services provider proposed a two-for-three bonus issue on Aug 29.

The issuance of up to 967.59 million bonus shares will be made on an entitlement date to be determined later.

Taliworks said the bonus issue will be wholly capitalised from its share premium account at 20 sen per bonus share.

Based on the maximum scenario, the group’s enlarged issued share capital after the bonus issue would comprise 2.42 billion shares. Last Thursday, the stock rose 11 sen or 8.15% to close at RM1.46, with a market capitalisation of RM1.77 billion.

Taliworks Corp was last traded at 1.71 times its book value.

      Print
      Text Size
      Share