IJM completes resale of 142.4mil treasury shares, raises RM385mil in proceeds
KUALA LUMPUR: IJM Corporation Bhd has completed the resale of its entire 142.4 million treasury shares, raising approximately RM385 million in net proceeds.
IJM Corporation Bhd has successfully sold all 142.4 million treasury shares it holds, generating roughly RM385 million in net proceeds. The shares, comprising around 3.9 percent of the company's issued share capital, were traded on Bursa Malaysia today, according to a company statement. IJM disclosed that the treasury shares were sold at prices between RM2.72 and RM2.74 each.
This resale is part of the company's three-year RM3 billion value realization plan, which also includes listing IJM Construction Sdn Bhd, monetizing the group's mature Malaysian toll concessions, and gradually exiting India investments. IJM's Chief Executive Officer and Managing Director, Datuk Lee Chun Fai, stated that the transaction is a significant step towards delivering shareholder value.
The company will continue executing the remaining initiatives in a disciplined manner and keep shareholders informed about progress. No new shares were issued during the transaction, and the resold shares were returned to circulation with their usual voting and dividend rights. Following the resale, IJM's issued share capital will consist of 3.64 billion ordinary shares.
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.
