STOCKS | DL Holdings Proposes 1-for-50 Bonus Issue; Expects Listing on Oct. 5

DL Holdings (1709) said it plans to issue one bonus share for every 50 shares held, which would result in about 40.028 million bonus shares based on 2.001 billion shares in issue, according to Ming Pao. The proposal is subject to approval at a shareholders’ meeting. The group also proposed a final dividend of 0.99 Hong Kong cents for the year ended March 31. DL Holdings said the bonus issue is effectively a reinvestment by existing shareholders and is intended to provide greater flexibility for shareholders to manage their investments, including selling part of their holdings for cash. The company expects the bonus shares to be listed on October 5.