Shares in Leading Spirit (Holdings), which distributes motorcycles and assembles television sets, fell almost 8 per cent yesterday after a $585 million share placement and rumours of a proposed share split. The counter, which was the heaviest traded stock, sank from $2.075 to $1.91 on 379.72 million shares worth $739.34 million. A company source said the share fall also was triggered by rumours the company planned to split the current issued share capital. He suggested each of the 2.41 billion shares would be divided in two in March in tandem with Leading Spirit's announcement of interim results. Company secretary Anita Yee Kit-lin said yesterday she was unaware of any share splits. The source said: 'It may send a shock to minority shareholders this time against the last bonus share issue. 'The proposal to divide the shares can help buoy the share flow in the market.' Leading Spirit dispatched bonus shares on a one-for-three basis last October when it reported a 32 per cent rise in full-year net profit to $205.09 million. It has raised almost $900 million in the last few days through a US$38 million syndicated loan and the share placement.