Kejuruteraan Asastera proposes 2-to-5 share split

KUALA LUMPUR (Jan 16): Kejuruteraan Asastera Bhd has proposed to undertake a 2-to-5 share split to increase the affordability and trading liquidity of its shares.

Shares of the electrical and mechanical engineering group, which was listed on Bursa Malaysia a little over two years ago, has seen its price multiply by seven times from 21 sen in July 2019 to RM1.48 at last close.

The counter has risen by 52.58% in January alone.

Kejuruteraan Asastera's number of issued shares stood at 370.23 million, which will be increased to 925.575 million shares post-exercise.

It expects the share split to be completed by the first quarter of this year, pending the approval of shareholders and the relevant authorities.

The counter rose 4 sen or 2.78% to close at RM1.48 today, for a market capitalisation of RM547.94 million.