Ever Glory United Holdings Limited Announces Bonus Issue and Listing of New Shares
In a significant development, Ever Glory United Holdings Limited (the “Company”) has announced the successful allotment and issuance of 86,635,750 bonus shares (the “Bonus Shares”) to its shareholders, following the proposed bonus issue announced earlier. This move is expected to have a notable impact on the Company’s share capital and investor dynamics.
Key Points:
Bonus Issue Details: The Company has allotted and issued 86,635,750 Bonus Shares to its shareholders as part of the bonus issue.
Listing and Trading: The Bonus Shares are expected to be listed and quoted on the SGX-ST with effect from 9:00 a.m. on 15 April 2025.
Temporary Stock Counter: The Bonus Shares will be traded under a temporary stock counter (Ever Glory A, Stock Code: QVP) separate from the existing stock counter.
Aggregation and Trading: The temporary stock counter for the Bonus Shares will be merged with the existing stock counter on the ex-entitlement date, which is one business day after the record date of the share entitlement.
Important Details for Shareholders:
Entitlement to Bonus Shares: The Bonus Shares will rank pari passu in all respects with the existing issued shares, except for the entitlement to the Proposed Dividend.
Proposed Dividend: The Company has announced a proposed tax-exempt (one-tier) final dividend of S$0.0025 per share, which will be approved by shareholders at the annual general meeting on 29 April 2025.
Listing and Quotation: The Bonus Shares are expected to be listed and quoted on the SGX-ST with effect from 9:00 a.m. on 15 April 2025.
Share Capital Increase: Following the issuance of the Bonus Shares, the total number of issued shares has increased from 261,580,649 to 348,216,399 shares.
What Investors Need to Know:
Impact on Shareholding: The bonus issue increases the total number of shares in circulation, which could potentially affect the liquidity and trading dynamics of the stock.
Entitlement to Dividends: The Bonus Shares will not be entitled to the proposed tax-exempt (one-tier) final dividend of S$0.0025 per share, which is set to be approved at the upcoming annual general meeting.
Trading under Temporary Counter: Initially, the Bonus Shares will trade under a temporary counter (Ever Glory A, Stock Code: QVP). Once aggregated, they will trade under the existing counter.
Share Price Impact and Considerations:
The increase in the number of shares due to the bonus issue could potentially impact the stock’s price and volatility. Investors should note that while the bonus issue increases the number of shares they hold, it does not change the value of their investment in the company. However, the perception of increased value or dilution might influence market sentiment.
Investor Takeaways:
No Change in Fundamentals: The bonus issue is essentially a capitalization of reserves, which does not change the company’s intrinsic value but increases the number of shares in circulation.
Trading Dynamics: The temporary stock counter for the Bonus Shares will be merged with the existing stock counter after the record date, ensuring a unified trading platform for all shares.
Conclusion:
The successful allotment and issuance of Bonus Shares by Ever Glory United Holdings Limited mark a significant event for the company, increasing its share capital and potentially influencing investor sentiment and trading dynamics. As the company moves forward with the listing of these new shares, stakeholders and investors should keep a close eye on how these changes reflect in the market and the company’s future performance.
Disclaimer:
This article is based on information available from public sources and has been prepared for informational purposes only. It does not constitute an investment recommendation or advice. Investors are advised to conduct their own research and consult a financial advisor if necessary before making any investment decisions. The information provided is accurate to the best of our knowledge at the time of writing but may be subject to change.
SEO Title: Ever Glory United Holdings Limited Completes Bonus Issue: What Investors Need to Know
About Ever Glory United Holdings Limited:
Ever Glory United Holdings Limited, incorporated in the Republic of Singapore, operates with a business presence that warrants attention from investors looking for growth and stability. With its listing on the Singapore Exchange Securities Trading Limited (SGX-ST), the company is poised to leverage its growth trajectory and market position.
Share Price Movement:
The news of the bonus issue and subsequent listing of new shares may influence investor sentiment and potentially impact the share price. As such, it is advisable for shareholders and potential investors to keep abreast of further announcements and developments related to Ever Glory United Holdings Limited.
For Further Information:
For the most accurate and up-to-date information, investors are encouraged to visit the company’s official website or check the latest announcements on the SGX-ST website.
Share Price Impact Analysis:
The bonus issue, which increases the number of shares without changing the company’s intrinsic value, could lead to short-term market movements based on investor perception and market dynamics. However, it’s crucial to focus on the company’s long-term growth prospects and fundamental analysis rather than short-term price fluctuations.
To Stay Updated:
Follow the company’s official announcements and financial reports.
Stay informed with market analysis and forecasts.
Market Reaction and Future Outlook:
The market’s reaction to the bonus issue and the increase in share capital will depend on various factors including investor sentiment, market conditions, and the company’s future performance. As with any investment, thorough research and analysis are recommended before making any decisions.
Additional Information:
Company Background: Ever Glory United Holdings Limited was listed on Catalist of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 18 May 2023.
Sponsor’s Role: The initial public offering of the Company was sponsored by Novus Corporate Finance Pte. Ltd.
Contact Information: For further queries, please contact Mr. Pong Chen Yih, Chief Operating Officer at 7 Temasek Boulevard, #04-02 Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.
End of Article
This article is a reproduction of information available in the public domain and has been prepared for informational purposes. It is not intended to be a solicitation or recommendation to buy or sell any securities. Investors are advised to seek professional advice before making investment decisions.
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