KUALA LUMPUR, July 30 (Reuters) -
Aeon Credit mulls bonus issue to improve stocks’ liquidity-The Edge
Non-bank financial institution Aeon Credit Service (M) Bhd, valued at RM2.55 billion ($802.39 million), may consider making a bonus issue which will help to improve the stocks’ liquidity, said its new managing director Kenji Fujita.
“The issue [making a bonus issue] was even raised in our last general meeting [on June 19, 2014]. We are open to ideas and will consider various options to enhance value to our shareholders and stakeholders, but at this point in time we have not arrived at any such decision,” Fujita told The Edge Financial Daily in an interview last week.
Aeon Credit is currently trading at RM17.70 per share and analysts have reported that a bonus issue would help improve the stocks’ liquidity and attract more retail participation.
The last time Aeon Credit gave bonus shares to its shareholders was in June 2008, with a one-for-one bonus issue for 175.5 million new shares.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 3.1780 Malaysian Ringgit)