KUALA LUMPUR: Shares of MALAYSIA BUILDING SOCIETY BHD [] (MBSB) fell in morning trade on Wednesday, May 4 after its renounceable rights issue of up to 506.98 million shares went ex.
At 11.04am, MBSB was down 12 sen to RM1.51. There were 2.37 million shares traded at prices ranging from RM1.45 to RM1.45.
A Bursa Malaysia circular said the rights shares were issued at RM1 for each rights share on the basis of five rights Shares for every seven existing MBSB shares held at 5pm on May 6 together with up to 506.98 million free detachable warrants on the basis of one warrant for every one rights share subscribed.
'In view of the above, the reference price is set to RM 1.63 on May 4 (ex-date). The basis of the reference price is merely a benchmark so that the shares can be traded within the trading limits. The fair value of the shares should be determined by the market forces,' it said.
At 11.04am, MBSB was down 12 sen to RM1.51. There were 2.37 million shares traded at prices ranging from RM1.45 to RM1.45.
A Bursa Malaysia circular said the rights shares were issued at RM1 for each rights share on the basis of five rights Shares for every seven existing MBSB shares held at 5pm on May 6 together with up to 506.98 million free detachable warrants on the basis of one warrant for every one rights share subscribed.
'In view of the above, the reference price is set to RM 1.63 on May 4 (ex-date). The basis of the reference price is merely a benchmark so that the shares can be traded within the trading limits. The fair value of the shares should be determined by the market forces,' it said.
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