PETALING JAYA, Apr 13 – HCK Capital Group Bhd said the recent rise in its share price and trading volume could be due to its share split and rights issue exercises, after it was queried by Bursa Malaysia yesterday. Last week, HCK, which is involved in the property, food, technology and media industries, announced a one-to-five share split and a renounceable rights issue of 210.59 million warrants on the basis of one warrant for every two split shares held.
In response to the regulator’s query, the group said the share split and right issue proposals are pending approvals from Bursa Malaysia, its shareholders at an EGM to be convened and any other relevant authority. Since the beginning of the month, HCK’s share price has risen close to 60%. The counter jumped RM1.05 or 20.4% to close at RM6.20 yesterday, with 62,200 shares changing hands.