KUALA LUMPUR, June 22 (Bernama) - Hai-O Enterprise Bhd has proposed a bonus issue of up to 13,464,883 shares of RM1 each on the basis of one new share for every five shares currently held in the company.
Hai-O is also seeking to transfer its listing status to the Main Board from the Second Board of Bursa Malaysia.
The proposed bonus issue will enable Hai-O to reward its shareholders for their continuing support and allow the existing shareholders to have a greater participation, the company said in a filing to Bursa Malaysia today.
"The proposed transfer listing is expected to enhance the group's prestige, reputation and also the confidence of its customers, suppliers, employees and bankers," it said.