KUALA LUMPUR (April 6) : SMPC Corp Bhd shares rose as much as 16% during intraday trade on Friday as investors chased the stock before it goes ex-rights on April 12. The final day of lodgement is on April 16.
The steel manufacturer’s shares climbed 31 sen to reach a high of 31 sen before trading lower at RM2.12 at 4.47pm. The stock is one of the top gainers on Friday .
SMPC is undertaking a renounceable rights issue of up to 19.39 million new shares with 9.7 million free warrants on the basis of six rights units and three warrants for every two existing shares held.
The company is also implementing a renounceable rights issue of up to RM19.39 million worth of zero coupon, 10-year irredeemable convertible unsecured loan stocks (ICULS) with 9.7 million free warrants on the basis of RM6 worth of ICULS and three warrants for every two existing shares held.
The steel manufacturer’s shares climbed 31 sen to reach a high of 31 sen before trading lower at RM2.12 at 4.47pm. The stock is one of the top gainers on Friday .
SMPC is undertaking a renounceable rights issue of up to 19.39 million new shares with 9.7 million free warrants on the basis of six rights units and three warrants for every two existing shares held.
The company is also implementing a renounceable rights issue of up to RM19.39 million worth of zero coupon, 10-year irredeemable convertible unsecured loan stocks (ICULS) with 9.7 million free warrants on the basis of RM6 worth of ICULS and three warrants for every two existing shares held.
