KUALA LUMPUR: Berjaya Land Bhd’s (BLand) unit, Immediate Capital Sdn Bhd (ICSB), has placed out 50 million units of irredeemable convertible unsecured loans stocks (ICULS) 1999/2009 to Goldman Sachs International at RM5 per ICULS or a total of RM250 million cash, said BLand in a statement yesterday. The placement, which was carried out through a direct business transaction, would result in a gain of RM200 million, said the company. It said the proceeds would be used for the group’s working capital purposes, including funding for its projects in Vietnam. “The placement represents an opportunity for the BLand group to realise part of its ICULS holding at a reasonable price,” it said. Read more>
(The Edge 20-2-2008)
