BGroup places out shares in BAuto

KUALA LUMPUR: Berjaya Corp Bhd’s unit, Berjaya Group Bhd (BGroup), has placed out a total of 60 million shares of 50 sen each for a total cash consideration of RM192 million or at RM3.20 per placement share.  In a filing to Bursa Malaysia yesterday, it said the placement share represented about 7.42 per cent of the existing issued and paid-up share capital of Berjaya Auto Bhd (BAuto) via direct business transaction. Following completion of the placement, BGroup shareholdings in BAuto will be reduced from 44.16 per cent to 36.74 per cent. The gross cash proceeds from the placement will be utilised for working capital purposes.