BLand complies with public shareholding spread requirement

• BLand said its public shareholding spread stood at 20.09% as at Sept 26, 2023.

KUALA LUMPUR (Sept 27): Berjaya Land Bhd (BLand) has rectified its public shareholding spread in accordance with Bursa Malaysia’s approved minimum requirement of 20%, ahead of its Sept 30 deadline.

In a bourse filing on Wednesday (Sept 27), BLand said its public shareholding spread stood at 20.09% as at Sept 26, 2023.

The company added that this came after disposals of an aggregate of 111.48 million BLand shares by companies related to Tan Sri Vincent Tan Chee Yioun between Sept 13 and 22.

“Accordingly, BLand has fully complied with the approved minimum public shareholding spread requirement of 20%,” it said.

According to bourse filings, Berjaya Corp Bhd (BCorp), of which Tan is the founder, disposed of 110 million shares or 2.24% stake via Juara Sejati Sdn Bhd on Sept 22, and another one million shares (0.02% stake) via Berjaya Sompo Insurance Bhd on Sept 13.

The disposals cut BCorp’s shareholding in Bland to 74.48% — comprising 8.5% direct and 65.98% indirect equity interest.

Shares in BLand ended half a sen or 1.64% lower at 30 sen, giving the company a market capitalisation of RM1.48 billion.

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