4 days ago
- Business
- New Straits Times
BCorp buys 42.5mil Berjaya Assets shares, raises stake to 13.96pct
KUALA LUMPUR: Berjaya Corp Bhd's (BCorp) subsidiary Inter-Pacific Credits Sdn Bhd has acquired 42.5 million shares or a 1.66 per cent stake in Berjaya Assets Bhd for RM12.75 million in cash at 30 sen per share.
In a filing to Bursa Malaysia, BCorp said the acquisition raised its and subsidiaries' stake in Berjaya Assets to about 13.96 per cent or 357.05 million shares.
BCorp noted that the purchase price was based on Berjaya Assets' market prices at the time of the acquisition.
"The acquisition was funded through the internal funds of Inter-Pacific Credits. There is no liability to be assumed by the BCorp arising from the acquisition.
"The acquisition enabled the BCorp to increase its stake in Berjaya Assets," it said.
BCorp's share price closed 3.57 per cent or one sen lower to 27 sen, valuing the group at RM1.58 billion.
