Berjaya Assets Berhad has announced that its wholly-owned subsidiaries, Berjaya Times Square Sdn Bhd and Berjaya Bright Sdn Bhd had disposed in aggregate of 97.10 million ordinary shares representing about 1.98% equity interest in Berjaya Land Berhad via direct business transactions for a total cash consideration of about RM25.36 million or at an average price of about RM0.26 per BLand Share.
Both parties had during the period disposed in the open market a total of about 10.06 million BLand Shares representing about 0.21% equity interest in BLand for a total cash consideration of about RM2.94 million or at an average price of about
RM0.29 per BLand Share.
Following the Disposals and the Open Market Disposals, BAssets and its subsidiaries (“BAssets Group”) now hold a total of 36.80 million BLand Shares representing about 0.75% equity interest in BLand.
BAssets said the proceeds from the disposals will be utilised for repayment of borrowings and working capital and to realise part of its investment in BLand as well as to raise fund to reduce its borrowings.
