AGX Group (KLSE:AGX) proposed a bonus issue of up to 108.2 million warrants, offering shareholders one warrant for every four existing shares held, according to a Thursday Malaysian bourse filing.

Shares gained over 2% in Friday's midday trade.

The freight forwarding and logistics company will determine the exercise price and entitlement date later.

The issue expected to be completed by the first quarter of 2026, subject to regulatory and shareholder approvals.

Proceeds will be used for operational expenses, including salaries, utilities, and office upkeep, it said.