Ni Hsin plans bonus warrants with five-year term
The proposed issue would cover up to 312.65 million warrants, with eligible shareholders receiving one for every two ordinary shares held.
Ni Hsin Group Bhd has outlined a proposed bonus warrant issue that would give eligible shareholders one free warrant per two ordinary shares they hold. The company told Bursa Malaysia the issue would comprise up to 312.65 million warrants, each lasting five years after issuance.
The stainless steel cookware and related products specialist intends to put 95 per cent of any proceeds from warrant exercises towards working capital. The remaining five per cent would finance capital expenditure.
Working capital uses would include buying stainless steel coils, charging cabinets, batteries and electric vehicle motorcycles. The allocation would also cover administrative costs, marketing and after-sales service. Capital spending would support the expansion of storage and production facilities and assembly lines.
Ni Hsin expects to spend the proceeds within 24 months after receiving them. Provided no unforeseen circumstances arise, it anticipates applying to Bursa Malaysia within two months of the announcement, with completion expected by the first quarter of 2027.
The company has named M & A Securities Sdn Bhd as principal adviser for the proposal.
