MPS shares surge as board to consider bonus issue next week
1 min read 19 Oct 2021, 12:20 PM ISTShares of MPS Ltd surged over 6% to ₹734 apiece on the BSE in Tuesday's deals after the bonus shares issue announcement
PremiumMPS Limited on Tuesday informed that its board will meet next week on Wednesday, October 27, 2021 to consider the proposal to issue bonus issue of shares. Shares of MPS surged over 6% to ₹734 apiece on the BSE in Tuesday's deals after the bonus share announcement by the company.
“This is to inform you that a meeting of the Board of Directors of the Company will be held on Wednesday, October 27, 2021, to inter alia, consider: 1. Un-audited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2021. 2. Proposal for Buyback of equity shares of the Company," MPS informed in an exchange filing today.
A company issues bonus shares for their shareholders in order to increase the liquidity of the stock as well as with the aim to decrease its stock price to make if affordable for investors. Bonus shares are fully paid additional shares issued by a company to its pre-existing shareholder.
MPS is a leading global provider of platforms and content solutions for the digital world. MPS operates globally through its offices in North America, Europe, Canada, UAE, and India.
Its products and services to clients worldwide across five main areas: digital publishing solutions, technology solutions, creative and interactive solutions, book and journal publishing solutions and 360-degree customer service solutions. MPS shares have surged around 97% in 2021 (year-to-date or YTD) so far. The stock is up nearly 90% in a year's period.
