KUALA LUMPUR: Shares of Kulim Bhd surged in early trade on Thursday, Nov 4 after it announced a corporate exercise involving a share split, bonus issue and free warrants.

At 9.13am, Kulim was up 72 sen to RM12.02 with 548,000 shares done.

The FBM KLCI rose 3.52 points to 1,511.12. Turnover was 81.54 million shares valued at RM66.88 million. There were 180 gainers, 68 losers and 140 stocks unchanged.

Kulim proposed the share split of one 50 sen share into two 25 sen shares. It would then undertake a one-for-one bonus issue after the share split.

It also proposed to issue free warrants on a one-for-eight basis after the share split and bonus issue. Its shares rose 22 sen to close at RM10.66 with 1.61 million units done on Wednesday.