PETALING JAYA: Sports Toto Bhd
has disposed of part of its investments in 7-Eleven Malaysia Holdings Bhd and Berjaya Assets Bhd for a total cash consideration of RM16.61mil.
The gaming group said its wholly owned subsidiary Magna Mahsuri Sdn Bhd disposed of 5.03 million shares, or a 0.45% stake, in 7-Eleven Malaysia for RM10.05mil, equivalent to RM2 per share.
It also sold 21.87 million shares, or a 0.85% interest, in Berjaya Assets for RM6.56mil, or 30 sen per share.
Following the disposals, Sports Toto and its subsidiaries retain about 7.89 million shares, or a 0.71% stake, in 7-Eleven Malaysia and 29.35 million shares, or a 1.15% interest, in Berjaya Assets.
Sports Toto said the proceeds would be used for investment and/or working capital requirements, including investments in debt securities and operating expenses.
The disposals are not expected to have a material impact on the group’s net assets, earnings or gearing for the financial year ending June 30, 2027
