KUALA LUMPUR (July 23): Infrastructure company Taliworks Corp Bhd’s share price surged to an all time high of RM3.25 in the morning trading session, after it proposed to undertake a share split and a free warrants issue to enhance the marketability and liquidity of its shares.

As at 10:55am, the counter was trading at RM3.25, gaining 17 sen or 5.5%, with 383,400 shares traded.

In a filing with Bursa Malaysia yesterday (July 22), Taliworks (fundamental: 1.3; valuation: 2.4) said the proposed share split involves the subdivision of every two shares of 50 sen each into five shares of 20 sen each.

On top of that, the group also said the proposed free warrants issue will involve the issuance of up to 241.93 million warrants, on the basis of one warrant for every five Taliworks shares held. It will be implemented after the the proposed share split.

Taliworks said the warrants are exercisable at any time within three years, commencing on and including the date of the issuance of warrants.

Both proposals are subject to approvals from Bursa Securities and the company’s shareholders, but are expected to be completed by the fourth quarter of 2015.

In a statement yesterday, Taliworks' executive director Lim Yew Boon said the proposed corporate exercises is expected to enhance the marketability and trading liquidity of Taliworks shares.

“It will also encourage ownership of Taliworks shares by a broader group of shareholders, by increasing the number of the group’s shares in the market and improving retail participation,” he added.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)