KUALA LUMPUR (Nov 9): Penang-based automated test equipment (ATE) maker ViTrox Corp Bhd rose as much as 64 sen or 3.2% to a high of RM20.64 on Tuesday morning, after announcing a bonus issue of up to 472.43 million new shares on the basis of one bonus share for every one existing share.

At 10.14am, the counter pared some gains at RM20.20, still up 20 sen or 1%.

At RM20.20, the counter was valued at RM9.45 billion.

Year to date, the counter has risen 39.31%.

The group said on Monday the proposed bonus issue serves to reward the existing shareholders of the company for their loyalty and continued support to ViTrox.

“After due consideration of the various options available, the board is of the view that the proposed bonus issue is an appropriate avenue for the company to reward its shareholders,” it said.

ViTrox is also proposing to establish an employees' share grant scheme of up to 5% of the total issued shares, for eligible executive directors and employees of the company.

The proposed bonus issue and proposed share grant scheme are expected to be completed and implemented in the first quarter of 2022 and the first half of 2022 respectively.