Cocoaland rises on one-for-one bonus share issue

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KUALA LUMPUR (April 12): Cocoaland Holdings Bhd’s share price rose over 20% in morning trade on Bursa Malaysia today after the candy manufacturer said last Friday it had proposed to undertake a bonus issue of 228.8 million shares on the basis of one bonus unit for one existing share, including 3.55 million treasury shares in the company.

At the time of writing today, Cocoaland’s share price was 41 sen or 22.4% higher at RM2.24.

More to come