Kuala Lampur:Bursa Malaysia Securities Bhd has approved PJBumi Bhd's proposed share split, which aims to enhance trading liquidity and attract a wider range of investors by reducing trading prices.
According to BERNAMA News Agency, PJBumi Bhd announced in a Bursa Malaysia filing that the approval from Bursa Securities is contingent upon several conditions. These include full adherence to the relevant provisions of the Main Market Listing Requirements (Main LR) related to the share split exercise.
The company is also required to notify Bursa Securities once the share split is completed and submit a certified true copy of the shareholders' resolution approving the exercise before the listing and quotation of the newly subdivided shares.
Additionally, PJBumi must provide written confirmation to Bursa Securities of its compliance with the approval terms and conditions upon completion of the share split. The company is also tasked with making the necessary announcements as stipulated by Paragraphs 6.35(2)(a) and (b) and 6.35(4) of the Main LR.
The proposal, announced on June 26, 2026, involves a one-for-five share split, which aims to improve trading liquidity and expand the investor base by lowering the share trading price. This will increase the engineering firm's issued share capital from 82 million to 410 million shares.
At noon, PJBumi's share price was RM4.22, with 351,800 shares traded.