Wednesday, January 4, 2012

BCorp gets Bursa Securities' nod for RM765m new loan stocks

KUALA LUMPUR (Jan 4): BERJAYA CORPORATION BHD [] has received Bursa Malaysia Securities Bhd's approval for a corporate exercise involving the issuance of RM765.32 million new loan stocks under its rights issue.

It said on Wednesday that Bursa Securities had in its Jan 3 letter approved the corporate exercise subject to obtaining approval from the Securities Commission for the issuance of the new ICULS.

BCorp planned to issue up to RM765.32 million nominal value of 10-year 5% irredeemable convertible unsecured loan stocks (ICULS)at 100% of its nominal value together with 765.32 million free detachable warrants.

It also proposed to privatise Cosway Corporation Ltd, a 56.83% subsidiary of BCorp.

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