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 RM16.61 million, according to a filing.
The company’s wholly owned subsidiary, Magna Mahsuri Sdn Bhd, sold 5.03 million shares, representing a 0.45% stake, in 7-Eleven Malaysia yesterday for RM10.05 million, or RM2 per share.
In a separate transaction, Sports Toto also disposed of 21.87 million shares, equivalent to a 0.85% interest, in Berjaya Assets for RM6.56 million, or 30 sen per share.
Following the two disposals, Sports Toto and its subsidiaries continue to hold about 7.89 million shares, or a 0.71% stake, in 7-Eleven Malaysia, as well as 29.35 million shares, representing a 1.15% interest, in Berjaya Assets.
The gaming and lottery group said the proceeds from the sale would be channelled towards investment purposes and/or working capital requirements, which include investments in debt securities as well as covering the company’s operating expenses.
The disposals come as Sports Toto continues to manage its portfolio of investments across various sectors, with the group periodically adjusting its holdings in listed companies as part of its broader capital allocation strategy. No further details were provided on whether additional disposals of its remaining stakes in either company are being considered.
