KLSE:MI

3 stories mentioning KLSE:MIUpdated 24d ago

Every FINWIRES story that references KLSE:MI, newest first.

Mi Technovation Proposes 'Dividend-in-Specie' Ahead of Semiconductor Unit's Singapore Listing; Shares Up 3%

Mi Technovation Berhad (KLSE:MI) has proposed to implement a shareholder entitlement involving the distribution of up to 9 million shares in its semiconductor materials subsidiary, Mi Material, ahead of the latter's listing, according to a Monday filing to the Malaysian bourse.Mi Technovation is poised to list its semiconductor materials business on the Mainboard of the Singapore Exchange Securities Trading (SGX-ST).Under the dividend-in-specie proposal, eligible shareholders of the company will receive one Mi Material share for every 100 Mi Technovation shares held, excluding treasury shares, at no cost.The actual number of shares to be distributed will depend on Mi Technovation's issued share capital, excluding treasury shares.The company's shares were up over 3% in recent trade.

KLSE:MI

Asia49d ago

Malaysian Shares End in Red Bucking Regional Gains; Mi Technovation Rises 4%

Malaysian shares ended in the red on Thursday, erasing yesterday's gains. Investors remained wary despite regional gains as the US oil prices dropped to their lowest level since the outbreak of the U.S.-Iran conflict.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 1.28 points to end 0.7% lower at 1,663.82.In economic news, Malaysia's leading index, which anticipates economic direction in the near term, ticked up 1.25% month over month in April, according to the Department of Statistics Malaysia. The pace of growth exceeded the Trading Economics forecast of a 0.1% growth.Meanwhile, Malaysia's coincident index, which measures current economic performance, rose 2.6% in April to 131.6 points from 128.3 in the same month of the previous year.In corporate news, shares of Mi Technovation (KLSE:MI) gained over 4% on close after it applied to list its semiconductor materials business on the Singapore Exchange's Mainboard through an initial public offering of Mi Material.Eckem's (KLSE:ECKEM) initial public offering was oversubscribed by 8.09 times ahead of its ACE Market listing, reflecting solid demand from retail investors. The formulator of specialty industrial chemicals received 5,152 applications for 284 million shares worth 34.1 million ringgit, compared with 31.3 million shares allocated to the Malaysian public.

FTSE Bursa Malaysia KLCIKLSE:ECKEMKLSE:MI

Asia49d ago

Mi Technovation to List Semiconductor Materials Business in Singapore; Shares Gain 3%

Mi Technovation (KLSE:MI) has applied to list its semiconductor materials business on the Singapore Exchange's Mainboard through an initial public offering of Mi Material, according to a Wednesday Taiwan Exchange filing.Shares rose about 3% in Thursday's afternoon trade.Mi Material will become the holding company for the group's semiconductor materials operations following an internal reorganization.The proposed IPO will include new and existing shares offered through an international placement, a Singapore public offering, a cornerstone offering, and an entitlement for Mi Technovation shareholders.Mi Technovation expects to retain about a 72.6% stake in Mi Material after the listing.The proposed listing is expected to be completed in the fourth quarter of 2026, subject to regulatory and shareholder approvals.

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