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BToto buys RM20m REDtone shares
by hlk Thu 23 May 2013, 08:19
PETALING JAYA: Berjaya Sports Toto Bhd (BToto) has purchased securities totalling RM20.15mil in REDtone International Bhd via its 88.26%-owned Philippines-listed unit Berjaya Philippines Inc.
A
filing with Bursa Malaysia showed the company bought 11.4 million
shares, representing a 2.39% stake. It also bought 81.25 million units
of 2.75% 10-year irredeemable convertible unsecured loan stocks, along
with 560,000 units of warrants.
It said the acquisition
represented an opportunity for the company to invest in REDtone with its
internally-generated surplus funds.
A
filing with Bursa Malaysia showed the company bought 11.4 million
shares, representing a 2.39% stake. It also bought 81.25 million units
of 2.75% 10-year irredeemable convertible unsecured loan stocks, along
with 560,000 units of warrants.
It said the acquisition
represented an opportunity for the company to invest in REDtone with its
internally-generated surplus funds.
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