Seprod surges 20% as company seeks approval for 5-for-1 stock split

SEPROD Limited’s share price surged nearly 20 per cent Wednesday after the manufacturing and distribution group announced plans to restructure its share capital, including a proposed five-for-one stock split and a resolution authorising the company to raise fresh equity.

The stock was trading at $77.99, up $12.86, or about 19.7 per cent, with 166,914 shares changing hands.

The movement follows Seprod’s announcement that it has called an extraordinary general meeting for shareholders to vote on three proposals: increasing the number of shares the company is authorised to issue, splitting every existing share into five, and giving its board authority to issue new shares in the future, including through an additional public offering, or APO.