KUALA LUMPUR: IJM Corporation Bhd
has completed the resale of its entire 142.4 million treasury shares, raising approximately RM385 million in net proceeds.
The shares, representing about 3.9 per cent of the company’s issued share capital, were transacted through open-market transactions on Bursa Malaysia today, said IJM in a statement.
IJM said the shares were transacted at prices ranging from RM2.72 to RM2.74 per share.
It said the resale of the treasury shares forms part of IJM’s RM3 billion value realisation initiative over three years, which includes the proposed listing of IJM Construction Sdn Bhd, the monetisation of the group’s mature Malaysian toll concessions and the progressive exit from its India investments.
IJM group chief executive officer and managing director Datuk Lee Chun Fai said the transaction marked another tangible step towards delivering shareholder value that the company had set out to achieve.
"We will continue to execute the remaining initiatives in a disciplined manner and keep shareholders updated on our progress,” he said.
IJM said no new shares were issued in the transaction, with the resold shares returning to circulation with the usual voting and dividend rights.
Following the resale, the company’s issued share capital will comprise 3.64 billion ordinary shares. - Bernama
