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Raffles Medical proposes 1-to-3 share split
RAFFLES Medical Group Ltd said on Monday that the company is proposing a share split in the ratio of every one share to three shares.
The group currently has 575.25 million issued shares and does not hold any treasury shares. Upon completion of the proposed share split and assuming no change to the number of issued shares from then, the company will have 1.73 billion issued sub-divided shares.
"The proposed share split may reduce the price of each board lot of the company's shares and make the shares more affordable and accessible to both existing and potential investors," Raffles Medical explained.
With the increased number of lots available for trading purposes, the proposed share split may also broaden the shareholder base of the company from the current number of some 7,780 shareholders by improving the accessibility of investment in the company to potential investors, it added.
The issued and paid-up share capital of the company as at Dec 31, 2015, of S$286.4 million shall remain unchanged after the implementation of the proposed share split.