Sports Toto sells more 7-Eleven shares, disposes of Berjaya Assets stake
KUALA LUMPUR: Sports Toto Bhd has further trimmed its stake in 7-Eleven Malaysia Holdings Bhd, selling another 5.03 million shares for RM10.05 million, while also disposing of shares in Berjaya Assets Bhd for RM6.56 million.
Sports Toto Bhd has reduced its stake in both 7-Eleven Malaysia and Berjaya Assets by selling shares in both companies. On August 11, Sports Toto's wholly-owned subsidiary Magna Mahsuri Sdn Bhd sold 5.03 million shares of 7-Eleven Malaysia, representing a 0.45% stake, for RM10.05 million. The stock closed down 0.5% at RM2.99. Additionally, Sports Toto disposed of 21.87 million shares of Berjaya Assets, a 0.85% stake, for RM6.56 million.
Following these transactions, Sports Toto's ownership in 7-Eleven Malaysia dropped to 0.71%, or 7.89 million shares, while its shareholding in Berjaya Assets decreased to 1.15%, or 29.35 million shares. The company claims the sales were made to realize part of its investments and to use the proceeds for investments and working capital.
This follows Sports Toto's previous sale of 12.4 million 7-Eleven Malaysia shares last week. Berjaya Corp Bhd owns significant stakes in all three entities, and Sports Toto chair and CEO, who are also shareholders in Berjaya Assets, declined to participate in the decision-making process due to their vested interests.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
