What ratio did Public Bank propose for its bonus shares?

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Public Bank Proposed a Four-for-One Bonus Share Ratio

Public Bank has announced a proposal to issue up to 15.53 billion bonus shares. This issuance is structured on the basis of four bonus shares for every one existing share held by shareholders. The bank anticipates the completion of this corporate exercise by the first quarter of the 2021 financial year.
Bonus Share Issuance Details
The proposed bonus issue involves a significant increase in the total number of issued shares. Specifically, Public Bank plans to issue up to 15.53 billion new bonus shares. This is to be distributed to existing shareholders at a ratio of four bonus shares for every single existing share they own.
Impact on Share Capital and Share Count
Following the completion of this bonus issue, Public Bank's share capital is expected to remain unchanged at RM9.41 billion. However, the total number of outstanding shares will see a substantial increase. The total number of shares will rise to 19.41 billion, a significant jump from the current 3.88 billion shares.
Expected Completion Timeline
The corporate exercise, which includes the proposed issuance of bonus shares, has an anticipated completion date. Public Bank expects this process to be finalised by the first quarter of the financial year 2021.
Analyst's Positive Outlook
MIDF Amanah Investment Bank Bhd has expressed a positive view on Public Bank's proposed bonus issue. The research firm believes that in addition to rewarding shareholders, the move will enhance the stock's liquidity and affordability. Given Public Bank's consistent earnings performance, analysts expect the bonus issue to further increase the stock's attractiveness to investors.

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What ratio did Public Bank propose for its bonus shares?

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