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KUALA LUMPUR: Shares in Euro Holdings Bhd were up over 7% in early trade Thursday after announcing a bonus issue of up to 3.21 billion shares.
The office furniture maker is currently the top gainer on Bursa Malaysia. It added 7.35%, or 36 sen to RM5.26, its highest in over two months.
Euro has proposed a bonus issue of up to 3.21 billion shares, on the basis of four bonus shares for every one share held.
Euro Holdings said the entitlement date for the latest bonus issue will be announced later.
The group said based on the five-day volume weighted average price of Euro Holdings shares up to March 16 of RM4.7019, the theoretical adjusted reference price of the bonus shares was 94 sen.
Euro's share capital will increase to 4.01 billion shares following the bonus issuance, from 801.9 million shares.
The bonus issue is expected to be completed by the second quarter of 2021.