Fineotex Chemicals Limited shares soared over 9% on Thursday following the announcement that the company’s board is set to meet to discuss a potential bonus issue of shares and a stock split. As of 11:13 AM, the shares were trading 9.63% higher at Rs 254.50.
In an official exchange filing released after market hours, Fineotex Chemicals confirmed that the board meeting is scheduled for Saturday, September 27, where these proposals will be considered. The board will also deliberate on a dividend payout for shareholders during the same meeting.
This marks a significant move for the company, as it will be the first time in 10 years that Fineotex Chemicals is exploring a bonus issue and stock split for its shareholders.
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