Bonus issue record date this week: Shares of Concord Biotech Limited will remain in focus next week due to their upcoming record date for the issuance of bonus shares to eligible investors. The Ahmedabad-headquartered bio-pharmaceutical components manufacturer has fixed Wednesday as the record date for bonus issue.
Shares of Concord Biotech ended higher on Friday as part of overall bullish sentiment prevailing across the pharmaceutical sector stocks through the week. As the bonus issue record date approaches, here are all the details about the corporate earnings.
The company’s board of directors approved a bonus issue in the ratio of 1:1. Which means that every shareholder will receive one equity share for every one existing fully paid up shares held. The issuance of additional shares will be subject to statutory and regulatory approvals.
It is the only bonus issue record date scheduled for the coming week, as per BSE website data as on November 1. The company has fixed Wednesday, November 4, as the record date to determine eligibility of shareholders for the payout.
Which means that investors must own the stock before the record date to qualify for the corporate action, ie Tuesday (Nov 3) in this case.