KUALA LUMPUR: BERJAYA LAND BHD []'s unit Gateway Benefit Sdn. Bhd disposed of 2.698 million BERJAYA SPORTS TOTO BHD [] shares in the open market on Thursday, April 28 for RM11.26 million or at an average selling price of RM4.21 each.
BLand said on Friday the disposed shares represented about 0.2% equity interests in BToto.
It said the disposals were at prevailing market prices. It said the shares which were purchased since 1992, had a total carrying value of about RM12.65 million in BLand group's books.
'The net proceeds from the disposals will be utilised as working capital and repayment of bank borrowings of the BLand group,' it said.
With the disposals, BLand and its unlisted subsidiaries hold 569.89 million BToto shares or 42.61%.
BERJAYA CORPORATION BHD [] and its unlisted subsidiaries also hold a total 137.99 million BToto shares or 10.32% in BToto.
With the disposals, the entire BCorp Group (including BLand Group) has 707.88 million BToto shares or about 52.93% of BToto shares.
BLand said on Friday the disposed shares represented about 0.2% equity interests in BToto.
It said the disposals were at prevailing market prices. It said the shares which were purchased since 1992, had a total carrying value of about RM12.65 million in BLand group's books.
'The net proceeds from the disposals will be utilised as working capital and repayment of bank borrowings of the BLand group,' it said.
With the disposals, BLand and its unlisted subsidiaries hold 569.89 million BToto shares or 42.61%.
BERJAYA CORPORATION BHD [] and its unlisted subsidiaries also hold a total 137.99 million BToto shares or 10.32% in BToto.
With the disposals, the entire BCorp Group (including BLand Group) has 707.88 million BToto shares or about 52.93% of BToto shares.
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