Share
KUALA LUMPUR (April 10): Property group Ideal Capital Bhd (KL:IDEAL) has proposed to undertake a bonus issue of one billion shares on the basis of two new shares for every one share held.
The entitlement date will be determined after all relevant approvals have been obtained, the company said in an exchange filing on Thursday.
The bonus issue, it said, will allow shareholders to have greater participation in the company's equity and encourage trading liquidity and marketability of the shares.
For illustrative purposes, the theoretical ex-bonus share price is estimated at RM1.1420, based on the five-day volume-weighted average market price (VWAMP) and RM1.1267 based on the lowest daily VWAMP over the three-month period up to Wednesday, April 8.
Ideal Capital, formerly known as Ideal United Bintang International Bhd, is the public vehicle of “Penang Condo King” Tan Sri Alex Ooi Kee Liang, who is the executive chairman and controls a stake of around 56% with his wife, executive director Puan Sri Phor Li Wei, through their private vehicle ICT Innotech Sdn Bhd.
The company's issued share capital currently stands at RM543.46 million, comprising 500 million shares.
M&A Securities Sdn Bhd has been appointed as the principal adviser for the bonus issue, which is targeted for completion by the third quarter of 2026.
For the financial year ended Dec 31, 2025, Ideal Capital's net profit jumped 74.8% to RM158.43 million from RM90.62 million a year earlier. Revenue grew 33.2% to RM1.24 billion.
Shares of Ideal Capital were last traded at RM3.50, valuing the company at RM1.75 billion.
..........
Get EdgeProp's montly print edition! Free delivery is available for selected regions. Subscribe now.
