Berjaya Philippines Inc, a holding firm of Malaysia-based gaming operator Berjaya Sports Toto Bhd, has increased its stake in 7-Eleven Malaysia Holdings Berhad (SEM) investing up to $1.2 million (P62.764 million).
Berjaya Philippines disclosed on Wednesday that it has acquired 3.9 million SEM shares in the open market, priced at an average of RM1.38 or P16.09 per share.
The deal increased Berjaya Philippines’ total SEM shares to 5.9 million, representing a 0.53 per cent equity interest.
SEM through its 100 per cent-owned subsidiary 7-Eleven Malaysia Sdn Bhd, is the owner and operator of 7-Eleven Stores in Malaysia.
7-Eleven Malaysia is reportedly the single largest convenience store chain in Malaysia with more than 2,100 convenience stores all over the country.
Berjaya Philippines is engaged in gaming, mobile phone prepaid loading distributions, hotel, automobiles, and restaurant businesses.
Berjaya Philippines’ last trading price increased 4.27 per cent or P0.230 to close at P5.62 per share on Wednesday (June 29).