KUALA LUMPUR: Shares of Integrated Rubber Corp Bhd fell to a six-month low of 64 sen on Friday, July 2 after it proposed a share capital reduction and rights issue.
At 4.29pm, it was down 13.5 sen to 64.5 sen with 31 million shares done.
The share price rose to a high of RM1.61 on Jan 18.
IRCB, a small rubber glove maker, had proposed to cancel 30 sen of the par value of every 50 sen each in IRCB to be set-off against the accumulated losses.
It also proposed a proposed renounceable rights issue of 355.21 million new 20 sen shares in IRCB together with 236.81 million free detachable new warrants on the basis of three rights shares together with two warrants for every two ordinary shares of 20 sen each in IRCB from the proposed capital reduction.
At 4.29pm, it was down 13.5 sen to 64.5 sen with 31 million shares done.
The share price rose to a high of RM1.61 on Jan 18.
IRCB, a small rubber glove maker, had proposed to cancel 30 sen of the par value of every 50 sen each in IRCB to be set-off against the accumulated losses.
It also proposed a proposed renounceable rights issue of 355.21 million new 20 sen shares in IRCB together with 236.81 million free detachable new warrants on the basis of three rights shares together with two warrants for every two ordinary shares of 20 sen each in IRCB from the proposed capital reduction.
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