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Mieco Chipboard proposes two-to-five share split
04 Apr 2017, 10:36 am
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This article first appeared in The Edge Financial Daily, on April 4, 2017.

 

KUALA LUMPUR: Particle board manufacturer Mieco Chipboard Bhd yesterday proposed to split every two shares in the company into five, to increase trading liquidity.

The exercise will see Mieco’s outstanding shares increase to 525 million shares from 210 million shares previously, said the company.

The bigger share volume, added Mieco, would bring its share price to an adjusted market price that is more affordable, thus attracting a wider group of investors to the group.

Mieco expects the proposal to be completed by the third quarter of 2017, pending approval from shareholders and Bursa Malaysia.

Shares in Mieco Chipboard gained 10.05% or 21 sen yesterday to close at RM2.30, giving it a market capitalisation of RM483 million.

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