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Investors Back Free Warrants Proposal as Share Price Gains Momentum (Minox)
Minox International Group Bhd (KL: MINOX), a leading distributor of hygienic stainless steel products for industries like F&B, pharmaceuticals, and semiconductors, recently announced its free warrants issuance plan to reward shareholders and enhance its capital structure.
This strategic move, proposed on a 1-for-2 basis, allows shareholders to benefit from the company’s growth trajectory without incurring additional costs. The indicative exercise price of 22 sen, representing a discount to the theoretical ex-all price, reflects the company’s efforts to create value for its shareholders.
During the company’s Extraordinary General Meeting (EGM) held today, the proposal received overwhelming investor support, with an approval rate of 99.999%. This strong backing demonstrates the shareholders’ confidence in Minox’s strategy and growth prospects.
The proceeds from the warrant exercise, when fully utilised, will provide Minox with additional working capital to fund its expansion, including the construction of a new warehouse in Puchong that will significantly increase its storage capacity.
Notably, Minox's share price has been gradually rising, closing at RM0.310 today. The steady uptrend reflects strong investor interest and anticipation of the company’s future performance. As a key supplier to industries that are poised for sustained growth, Minox is well-positioned to capture opportunities in the high-demand sectors it serves.
With solid fundamentals, robust investor support, and clear strategic initiatives, Minox International Group is shaping up as a stock to watch in 2025. The overwhelming approval of the free warrant’s issuance underscores the market's confidence in the company's vision and potential to deliver long-term shareholder value.
Minox International has established a solid presence in Malaysia and is expanding into other Southeast Asian markets, including Thailand, Singapore, and Indonesia. These regions are experiencing significant growth in industrial and manufacturing activities, driving continuous demand for stainless steel products