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Notable Trade Felda buys 10% in Barakah, confirms Edge FD report

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Notable Trade Felda buys 10% in Barakah, confirms Edge FD report Empty Notable Trade Felda buys 10% in Barakah, confirms Edge FD report

Post by Cals Tue 25 Nov 2014, 00:09

Notable Trade
Felda buys 10% in Barakah, confirms Edge FD report

KUALA LUMPUR (Nov 24): Agriculture-based Felda Investment Corp Sdn Bhd has acquired a 9.73% stake inBarakah Offshore Petroleum Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and emerged as a major shareholder in the latter.
According to Barakah's statement to the exchange today, Felda had acquired the stake comprising 73.5 million shares last Friday, via an an off-market deal.
The transaction confirms a report today by The Edge Financial Daily on Felda's acquisition of the Barakah stake.
The Edge Financial Daily, quoting sources, reported Felda's investment in Barakah would be a launching pad for the buyer to ride on the growth of the domestic oil and gas sector.
Cals
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