REDTONE (0032) - Berjaya Corp raising stake in REDtone? (Update)
KUALA LUMPUR: Berjaya Corporation Bhd, which owns 28.29% of REDtone International Bhd is believed to be undertaking a major corporate exercise involving the latter.
It is believed BCorp could have bought 10.53% or 70.09 million shares in REDtone at 80 sen each which were crossed at midday.
The block could have come from Tema Juara Sdn Bhd which is deemed interest in 10.53% or 70.09 million shares of REDtone. It sold 74.608 million shares on March 16.
At midday, REDtone said a major shareholder had given notice of its intention to undertake a major corporate exercise involving REDtone.
Both companies sought for voluntarily suspension in the afternoon session on Friday.
BCorp’s stake in REDtone is 188.25 million shares and this could raise its stake to 38.82% if it had purchased the block from Tema Juara.
REDtone was unchanged at 83 sen at the pre-suspension.
http://www.thestar.com.my
KUALA LUMPUR: Berjaya Corporation Bhd, which owns 28.29% of REDtone International Bhd is believed to be undertaking a major corporate exercise involving the latter.
It is believed BCorp could have bought 10.53% or 70.09 million shares in REDtone at 80 sen each which were crossed at midday.
The block could have come from Tema Juara Sdn Bhd which is deemed interest in 10.53% or 70.09 million shares of REDtone. It sold 74.608 million shares on March 16.
At midday, REDtone said a major shareholder had given notice of its intention to undertake a major corporate exercise involving REDtone.
Both companies sought for voluntarily suspension in the afternoon session on Friday.
BCorp’s stake in REDtone is 188.25 million shares and this could raise its stake to 38.82% if it had purchased the block from Tema Juara.
REDtone was unchanged at 83 sen at the pre-suspension.
http://www.thestar.com.my
