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Berjaya Sports Toto in Singapore Stock Exchnge

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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.

BToto said on Tuesday it had received a conditional eligibility-to-list letter from the Singapore Exchange Securities Trading Ltd (SGX-ST) for the listing of the STM-Trust on the Main Board.

“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