BToto to distribute dividend in-specie

PETALING JAYA: Berjaya Sports Toto Bhd (BToto) has proposed to distribute a dividend in-specie of up to 2.81 billion Sports Toto Malaysia Trust (STM-Trust) units to its shareholders in conjunction with the proposed secondary listing of STM-Trust on the Main Market of Bursa Malaysia.

BToto had earlier proposed to transfer its 100% equity interest in Sports Toto Malaysia Sdn Bhd to STM-Trust and proposed the listing of STM-Trust units on the main board of the Singapore Exchange Securities Trading Ltd (SGX-ST) in line with its plan to spin off the cash-generating Sports Toto Malaysia into a business trust that would be listed in Singapore.