Berjaya Sports Toto in Singapore Stock Exchnge
KUALA LUMPUR: Lottery operator Berjaya Sports Toto Bhd’s (BToto) proposed Sports Toto Malaysia (STM) business trust in Singapore has received approval from the stock exchange there.
“The ETL (eligibility-to-list) is valid for three calendar months from the date of the said letter (Dec 10),” it said.
The eligibility would depend on several factors, among which, consent from Maybank Trustees Bhd to discharge the corporate guarantee of up to RM800mil granted by BToto in relation to the MTN Programme and the release of charge over STM shares
News reports said BToto was seeking about S$500mil (RM1.3bil) from the initial public offering (IPO) of the STM-Trust. The reports said the STM-Trust might offer investors a yield of 6% to 7%. – The Star