Bursa Alert
Global Market
NewsNotable Trade Berjaya Corp disposes of entire 8.43% stake in Magni-Tech
Page 1 of 1
Notable Trade Berjaya Corp disposes of entire 8.43% stake in Magni-Tech
by Cals Thu 09 Jun 2016, 02:43
- Notable Trade
[size=28]Berjaya Corp disposes of entire 8.43% stake in Magni-Tech
By Billy Toh / theedgemarkets.com | June 8, 2016 : 10:38 PM MYTKUALA LUMPUR (June 8): Berjaya Corporation Bhd (BCorp)’s wholly-owned subsidiary, Juara Sejati Sdn Bhd, had disposed of its entire 8.43% stake, comprising 13,716,900 ordinary shares of RM1.00 each in Magni-Tech Industries Bhd (Magni-Tech) for a cash consideration of about RM56.71 million or at an average price of RM4.13 per share.
The disposal was done via direct business transactions during the period from Jan 13, 2016 to June, 7 2016. The average price of RM4.13 was at a discount of 24 sen from Magni-Tech’s closing price of RM4.37.
According to an announcement on Bursa, the cash proceeds arising from the shares disposal will be utilized as working capital of the BCorp group. Based on the BCorp Group carrying value of RM56.00 million, the shares disposal resulted in a net gain of RM1.19 million, since the said carrying value has incorporated a re-measurement gain of RM29.23 million. The said gains were all recognized in the previous financial year ended April 30, 2016.
As of closing today, BCorp edged up by 1.37% to 37 sen, with 10.46 million shares traded; while Magni-Tech’s share price fell by 0.68% to RM4.37, with only 69,600 shares exchanging hands.
[/size]
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Notable Trade Gopeng’s third largest shareholder disposes entire stake in company
» Berjaya Corp offloads 7.44% Magni-Tech stake at 8.2% discount to PNB
» Notable Trade Vincent Tan continues to reduce stake in Magni-tech
» Highlight Notable Trade: Vincent Tan's Berjaya Corp ups stake in REDtone to 30.74%
» Notable Trade Berjaya Group disposes of 11.2 mil shares in BToto
» Berjaya Corp offloads 7.44% Magni-Tech stake at 8.2% discount to PNB
» Notable Trade Vincent Tan continues to reduce stake in Magni-tech
» Highlight Notable Trade: Vincent Tan's Berjaya Corp ups stake in REDtone to 30.74%
» Notable Trade Berjaya Group disposes of 11.2 mil shares in BToto
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum