The Securities Commission (SC) and Bursa Malaysia have announced a temporary relief measure to listed companies to obtain mandated shareholder approval at a general meeting to undertake rights issue exercises.
The flexibility to allow expedited right issue exercises by public listed companies (PLCs) and listed real estate investment trusts (REITs) will be introduced via an enhanced rights issue framework.
The measure allows eligible PLCs and Reits to issue new rights shares or units to their existing securities holders on a pro rata basis, up to 50 per cent of the total number of issued shares or issued units.
