JF Technology seeks up to RM310.4mil from bonus, warrant issues

JF Technology Bhd has proposed a bonus issue of up to 388.01 million free warrants to shareholders, which could raise up to RM310.4 million for the company's working capital and capital expenditure. The semiconductor test interface solutions provider will issue two warrants for every five existing shares held on an entitlement date, with the price set at a discount or premium of no more than 20% to the five-day volume-weighted average market price of its shares before the price-fixing date.

The group managing director and CEO emphasized that the move will provide an additional avenue to reward shareholders, improve marketability, and strengthen the group's capital base without incurring interest costs associated with bank borrowings.

Brief written by urgent.news from New Straits Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.