KUALA LUMPUR (April 14): Shares of SEG International Bhd (SEGi) gained 6.25% at mid-morning today, after the company proposed a five-for-seven bonus issue of up to 516.82 million shares.
At 10.08am, shares of the private higher education group gained 7 sen to RM1.19, with 1.36 million shares traded.
The bonus issue, SEGi said in a filing yesterday, will be wholly capitalised from the group's share premium account.
"The board has confirmed that based on SEGi's latest audited financial statement for [the financial year ended Dec 31, 2016] at the company level, SEGi has adequate reserves available to be capitalised for the proposed bonus issue," the group added.
SEGi's share premium of about RM68.5 million and retained earnings of about RM2.45 million at the company level amounted to approximately RM70.95 million.
However, its consolidated accumulated losses at group level as at Dec 31, 2016 stood at RM16.95 million.