Ambani's Reliance Plans Bonus Share Issue
By Kimberley Kao
Reliance Industries is planning to issue bonus shares as part of efforts to reward shareholders of one of the biggest Fortune 500 companies in the world.
The company, which has a market capitalization of over $246 billion as of Thursday afternoon, is considering issuing one bonus share for every share held, Reliance Industries said in a stock-exchange filing Thursday.
Conglomerate Reliance Industries, owned by one of Asia's richest men, Mukesh Ambani, has business interests spanning oil refining to retail and telecommunications.
The board will meet Sept. 5 to consider and approve the issuance of new shares, the company said.
Shares jumped as much as 2.6% during trading in Mumbai.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
August 29, 2024 05:28 ET (09:28 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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