Citaglobal to sell 20% stake in Manjaran to Berjaya Property for 50 million ringgit
Malaysia's Citaglobal plans to sell a 20% equity interest in Manjaran to Berjaya Property for a total of 50 million ringgit, Reuters reports.
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what happened
Malaysian company Citaglobal Bhd said it intends to divest a 20% equity interest in Manjaran to Berjaya Property Berhad. The total disposal consideration is 50 million ringgit (RGT). Citaglobal estimates the disposal will produce a one-off gain of about 13.4 million ringgit.
The payment will not be made in cash but through the issuance of 178.6 million Berjaya Property shares at 0.28 ringgit per share, according to the exchange filing reported by Reuters.
why it matters
The deal is relatively small and matters mainly to shareholders of the two companies. Because payment is made in shares, Citaglobal will receive a stake in Berjaya Property rather than cash, so the effect on its balance sheet will depend on how those shares are valued going forward.
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sources
- Citaglobal To Divest 20% Equity Interest In Manjaran To Berjaya Property — Reuters, 26 October 2026 at 10:27 UTC
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