KUALA LUMPUR: Duopharma Biotech Bhd shareholders had on Friday voted to approve the company’s corporate exercise involving a one-for-three bonus issue.

       The share price was up eight sen to RM2.46 at 2.39pm but off the high of RM2.53.

       On Thursday, it hit a near 13-month low of RM2.35.s

       The company held a fully virtual EGM where the shareholders agreed to the bonus issue proposed on May 3.

       The exercise will entail the issuance of 235.44 million bonus shares at an entitlement date to be announced at a later date.

       Its chairman Tan Sri Siti Sa’diah Sh Bakir said through the issuance of the bonus shares, shareholders would have greater participation in the equity of the group.

       She said this would be in terms of the number of shares, while retaining their percentage of equity interest held. This will also improve the liquidity of Duopharma.

       “The confidence of our shareholders has always been very important for Duopharma Biotech, and this bonus issue is another way we are rewarding them for their trust in us.

       “We will continue to pursue new business opportunities that are suitable and promising, and strive towards stronger performance moving forward,” she said.