KUALA LUMPUR (June 26): PJBumi Bhd (KL:PJBUMI) has proposed a one-for-five share split to improve trading liquidity and broaden its investor base by lowering the trading price of its shares.
Under the proposal, each existing ordinary share will be subdivided into five shares, expanding the engineering firm's issued share capital to 410 million shares from 82 million, according to a Bursa Malaysia filing on Friday.
The exercise will not affect PJBumi's market capitalisation or shareholders' proportionate ownership, although its share price will be adjusted to reflect the enlarged share base. Based on the stock's last traded price of RM3.91 on June 23, the theoretical ex-split reference price would be 78.2 sen per share.
"The proposed share split is expected to improve the trading liquidity of PJBumi shares and encourage broader participation from new investors due to the lower trading price," the company said.
The proposal is subject to approvals from Bursa Securities, shareholders and other relevant authorities. PJBumi expects to complete the exercise by the end of December 2026.
Chairman and managing director Adlin Shaharudin is the company's largest shareholder, with an 18.5% stake held through EMEF Technology Sdn Bhd. Panama Ventures Sdn Bhd owns 12.23%, followed by Hafidah Pawanchik with 11.47% and Tanjung Setara Sdn Bhd with 10.42%.
PJBumi shares closed down six sen or 1.56% at RM3.79 on Friday, giving the company a market value of RM310.8 million. The stock has risen 146% so far this year.