Wednesday 07 Jun 2023
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KUALA LUMPUR (Oct 5): JF Technology Bhd has proposed a bonus issue with free warrants to reward its shareholders and provide greater equity participation. 

They will be issued on the basis of three bonus shares and two free warrants for every one existing share held by JF Technology shareholders at an entitlement date to be announced, the group said in a stock exchange filing. 

The issuance will involve up to 693 million bonus shares and 462 million free warrants, it said. 

As for the warrants, JF Technology said their exercise price will also be fixed and announced at a later date. For illustrative purposes, the exercise price of the warrants is assumed to be RM1.10, which could raise up to RM508.20 million for the group when the warrants are exercised, with the proceeds of that to be used as the group's working capital. 

“The proposed bonus issue of shares with warrants is expected to be completed in the fourth quarter of 2020,” it added.  

JF Technology share price has been trending upward this year and hit its all-time high at RM4.31 on Aug 24. Year-to-date, the counter has jumped 152% from RM1.52 on Dec 31.

Today, its shares closed 28 sen or 7.89% higher at RM3.83, giving it a market capitalisation of RM964.62 million, after 2.79 million shares were done. 

Edited ByTan Choe Choe
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