MSM International Proposes Share Consolidation
MSM International has proposed a share consolidation plan to merge every four shares into one ordinary share, reducing the total from 105,391,186 to 26,347,796 shares. The paid-up share capital will remain at approximately 30.2 million Malaysian ringgit. Shareholder approval will be sought at an extraordinary general meeting. This move aims to decrease share price volatility and enhance market interest in the company.
MSM International is proposing to undertake a share consolidation to merge every four shares into one ordinary share, according to a filing with the Singapore Exchange on Thursday.
The proposal would decrease the company's number of shares to 26,347,796 from 105,391,186 following the completion of the consolidation, with the paid-up share capital retained at approximately 30.2 million Malaysian ringgit.
The company will seek shareholder approval for the proposal at an extraordinary general meeting.
The share consolidation exercise is part of the company's strategy to reduce potential volatility in its share price and to increase market interest in the company.
