Property group Ideal Capital Bhd has proposed a bonus issue of up to one billion shares on the basis of two new shares for every one existing share held.
The entitlement date will be announced after all necessary approvals are obtained, the company said in a filing with Bursa Malaysia on Thursday.
The exercise is aimed at increasing shareholder participation in the company’s equity while improving trading liquidity and marketability of its shares.
For illustration, the theoretical ex-bonus 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 April 8.
Formerly known as Ideal United Bintang International Bhd, Ideal Capital is controlled by executive chairman Tan Sri Alex Ooi Kee Liang, who holds about 56% of the company together with his wife, executive director Puan Sri Phor Li Wei, via 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 principal adviser for the bonus issue, which is expected to be completed by the third quarter of 2026.
For the financial year ended Dec 31, 2025, Ideal Capital posted a 74.8% increase in net profit to RM158.43 million, while revenue rose 33.2% to RM1.24 billion.
Shares of Ideal Capital last traded at RM3.50, valuing the group at RM1.75 billion.
