China Sunsine Chemical proposes one-to-two stock split

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.