KUALA LUMPUR (June 28): Cheetah Holdings Bhd’s share price neared limit up after jumping over 29% in Bursa Malaysia morning trade today following the clothes retailer's announcement last Friday of several corporate exercises, including a proposed bonus issue of new shares and warrants. 

At 9.45am today, Cheetah Holdings’ share price had risen 46 sen or 29.49% to RM2.02, its highest so far today.

Cheetah Holdings, which was Bursa's top gainer, saw 836,600 shares traded.

Last Friday, Cheetah Holdings' announced, among others, a proposed bonus issue of up to 255.24 million new shares in the company on the basis of two bonus shares for one existing share held besides a planned bonus issue of up to 191.43 million warrants on the basis of one warrant for every two existing shares owned.

Cheetah Holdings said in a Bursa filing that its proposed corporate exercises include a "private placement of up to 172.29 million new shares, representing 30% of the enlarged total number of issued shares, to independent third-party investor(s) to be identified and at an issue price to be determined later, and the proposed establishment of an employee share option scheme involving up to 30% of the total number of issued shares of the company (excluding treasury shares, if any) for eligible directors and employees of the company and its subsidiaries."

According to Cheetah Holdings, the company currently has 114.86 million issued shares. 

Based on the company’s share price of RM2.02 and 114.86 million issued shares, the group has a market value of about RM232.02 million.

Cheetah Holdings also reported last Friday a better quarterly financial performance compared to a year earlier.

In a separate Bursa filing, Cheetah Holdings said it registered a net profit of RM513,000 for the third quarter ended March 31, 2021 (3QFY21), compared to a net loss of RM3.79 million a year earlier.

For the cumulative nine months ended March 31, 2021 (9MFY21), cumulative net profit stood at RM4.78 million versus a net loss of RM5.28 million a year earlier, although revenue slipped to RM78.25 million from RM88.65 million.