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NewsNotable Trade Berjaya Group and EPF pare stake in Berjaya Auto
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Notable Trade Berjaya Group and EPF pare stake in Berjaya Auto
by Cals Wed 12 Nov 2014, 03:09
Notable Trade
Berjaya Group and EPF pare stake in Berjaya Auto
By Jeffrey Tan / TheEdge Markets.com | November 11, 2014 : 10:14 PM MYT
KUALA LUMPUR (Nov 11): Berjaya Corp Bhd (BCorp) ([You must be registered and logged in to see this image.] Financial Dashboard), which is controlled by tycoon Tan Sri Vincent Tan, has sold some 49.96 million shares, or 6.18% equity stake, in Berjaya Auto Bhd (BAuto), according to the latest filing to Bursa Malaysia today.
The share sale reduces BCorp’s equity stake to 44.28% or some 357.83 million shares in BAuto. The share sale were done in two transactions, some 39.1 million shares on Nov 7 and a further 10.96 million shares yesterday through direct deals.
Separately, the Employees Provident Fund also disposed some 1.47 million shares in BAuto, to reduce its stake to 5.58% or some 45.1 million shares.
BAuto share price has more than doubled year to date to close at RM3.42 today with a market capitalisation of RM2.76 billion. The stock price has shot up nearly five times over its initial public offer price of 70 sen.
The company made its debut on Bursa Malaysia in November last year.
Berjaya Group and EPF pare stake in Berjaya Auto
By Jeffrey Tan / TheEdge Markets.com | November 11, 2014 : 10:14 PM MYT
KUALA LUMPUR (Nov 11): Berjaya Corp Bhd (BCorp) ([You must be registered and logged in to see this image.] Financial Dashboard), which is controlled by tycoon Tan Sri Vincent Tan, has sold some 49.96 million shares, or 6.18% equity stake, in Berjaya Auto Bhd (BAuto), according to the latest filing to Bursa Malaysia today.
The share sale reduces BCorp’s equity stake to 44.28% or some 357.83 million shares in BAuto. The share sale were done in two transactions, some 39.1 million shares on Nov 7 and a further 10.96 million shares yesterday through direct deals.
Separately, the Employees Provident Fund also disposed some 1.47 million shares in BAuto, to reduce its stake to 5.58% or some 45.1 million shares.
BAuto share price has more than doubled year to date to close at RM3.42 today with a market capitalisation of RM2.76 billion. The stock price has shot up nearly five times over its initial public offer price of 70 sen.
The company made its debut on Bursa Malaysia in November last year.
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