KUALA LUMPUR (May 9): Dagang NeXchange Bhd (KL:DNEX) has proposed to undertake a bonus issue of up to 1.21 billion warrants, on the basis of one warrant for every three shares held by shareholders.

An exercise price of 19 sen per warrant has been fixed with an entitlement date to be announced later, the group said in a bourse filing on Friday. It represents a discount of 29.6% to the five-day volume weighted average market price up to and including Thursday, May 8.