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FINWIRES

MoneyMax Proposes 1-for-3 Bonus Issue; Shares Up 4%

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MoneyMax Financial Services (SGX:5WJ) has proposed a bonus issue of up to about 318 million bonus shares, according to a Tuesday filing to the Singapore Exchange.

The pawn broker's shares were up nearly 4% in Wednesday's trade.

The company will allot one bonus share for every three existing ordinary shares in the capital of the company held by the eligible shareholders of the company.

On completion of the bonus issue, the company's enlarged issued share capital will increase to up to around 1.27 billion shares.

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