China Sunsine Chemical proposes one-to-two stock split
Add BT as a preferred source
Sharanya Pillai
MAINBOARD-LISTED China Sunsine Chemical Holdings is proposing a share split of every ordinary share to two shares, the company said in a bourse filing on Friday.
China Sunsine currently has an issued and paid-up share capital of S$65.2 million, comprising 491.7 million shares, including 3.5 million treasury shares. With the split, an additional 491.7 million shares will be issued.
The theoretical share price after the split would be S$0.52, assuming, for illustrative purposes, that the split was completed on Thursday. There is no guarantee that the actual market price would match the theoretical price.
The stock split will improve the liquidity of the company's shares, given the lower share price, and also broaden its shareholder base, China Sunsine said in the filing. The proposal will need to be given the go-ahead by the Singapore Exchange and by shareholders via an Extraordinary General Meeting.
Shares of China Sunsine closed at S$1.10 on Friday, up 0.92 per cent.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Qatari LNG ship struck in Strait of Hormuz, testing US talks
DBS, OCBC and UOB shares hit all-time highs as sentiment improves
‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis
Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10
