Notable Trade BCorp buys more shares in BToto

by **Cals** Fri 12 Dec 2014, 01:15

Notable Trade
BCorp buys more shares in BToto

By Foo Yen Ne / theedgemarkets.com | December 11, 2014 : 9:35 PM MYT
KUALA LUMPUR (Dec 11): Berjaya Corp Bhd buys additional shares in Berjaya Sports Toto Bhd (BToto); probably the diversified group is taking advantage of current share price weakness.
Based on a filing with Bursa Malaysia, the group made two purchases — 65,200 shares on Dec 8 (Monday), and 50,000 shares on Dec 9 (Tuesday) on the open market, to raise its stake to a total of 51.66% in the gaming firm.
The shares were purchased by Bizurai Bijak (M) Sdn Bhd (Bizurai), the wholly-owned subsidiary of Berjaya Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), which is in turn wholly-owned by BCorp.
Bizurai has been accumulating shares in the number forecast operator. According to filings with Bursa Malaysia, Bizurai has acquired BToto shares on every trading day from Dec 1 to Dec 9 alone, whereby having acquired over 1.35 million shares on the open market.
Meanwhile, the company’s second quarter ending Oct 31, 2014, is due to be released this month (December).
BJToto closed at RM3.50 today, down 2 sen. This gives it a market capitalisation of RM4.7 billion. The share price has been moving downwards slowly, shedding 11.57% year-to-date.
Meanwhile, BCorp has raised its equity stake in REDTone International Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) to 20.05%, from 12.39%, through direct business deal. On top of that, the group has also acquired more irredeemable convertible unsecured loan stocks and warrants.