KUALA LUMPUR: Furniture manufacturer Tafi Industries Bhd has proposed to undertake a bonus issue of up to 252.95 million new ordinary shares on the basis of two bonus shares for every one share held in the company.

       "The proposed bonus issue is to reward the company’s shareholders, improve the trading liquidity and marketability of TAFI shares.

       "The proposal is also taken because the bonus share will be more affordable thus appeal to a wider group of public shareholders and investors,” it said in a filing with Bursa Malaysia today.

       TAFI also proposed a bonus issue of up to 63.24 million warrants on the basis of one warrant for every two existing shares held.

       The entitlement date will be determined by the board and announced by the company at a later date upon receipt of all relevant approvals for the proposals. - Bernama