Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 13): VisDynamics Holdings Bhd emerged on Bursa Malaysia’s top gainers list on Monday (Feb 13), after it proposed a bonus issue.

The automated test equipment manufacturer surged 29.5 sen or 40.14% to close at a one-year high of RM1.03, with 37.51 million shares traded.

At this price, the company is valued at RM179.24 million.

Last Friday, VisDynamics proposed a bonus issue of up to 87.6 million new shares on the basis of one bonus share for every two existing shares.

This is to be followed by a bonus issue of warrants, involving up to 65.7 million warrants on the basis of one warrant for every four shares.

Assuming that all warrants are exercised at an indicative exercise price of 55 sen each, VisDynamics said it will raise gross proceeds of up to RM36.13 million, which is to be utilised to fund its day-to-day operations.

The company expects the proposals to be completed by the first half of 2023.

For the fourth quarter ended Oct 31, 2022, VisDynamics’ net profit surged 186.59% to RM5.45 million from RM1.9 million a year prior, as revenue rose 49.27% to RM17.42 million versus RM11.67 million.

For the full year, net profit rose 32.39% to RM12.72 million from RM9.06 million in the previous year.

Full-year revenue increased 6.69% to RM51.08 million from RM47.88 million due to different specifications in the sales of machines as well as the strengthening of the US dollar.

Edited BySurin Murugiah & S Kanagaraju
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