KUALA LUMPUR: Fashion group Bonia Corp Bhd is proposing to spin off one of the brands under its stable for a separate listing on the Leap Market.
Bonia told the stock exchange today that the plan was to reward its own shareholders by providing them with an opportunity to invest directly in CRG Incorporated Sdn Bhd at zero subscription cost.
CRG is the manufacturer and distributor of Carlo Rino and CR2 branded fashion products.
“The proposed distribution of Bonia’s entire shareholding in CRG is by way of dividend-in-specie on pro-rata distribution to shareholders,” it said.
Upon completion of the proposed dividend-in-specie, the entitled shareholders will hold CRG shares directly.
“CRG will submit a listing application to Bursa Securities for its listing on the Leap Market,” it said.