(Reuters) - Malaysian gaming firm Berjaya Sports Toto Bhd said it will list its lottery unit Sports Toto Malaysia on the Singapore stock exchange under a business trust and likely raise 1.23 billion ringgit ($384.44 million).
Berjaya Sports Toto, indirectly controlled by Malaysian tycoon Vincent Tan, will transfer its entire stake in the lottery unit into Sports Toto Malaysia Trust for 6 billion ringgit.
Berjaya Sports Toto said late on Tuesday that the details of the listing, scheduled for the fourth quarter of this year, will be finalised at a later stage.
But the firm said the initial public offering will involve the sale of up to 540 million existing shares and another 460 million of new shares in the trust.
The move to shift Berjaya Sports Toto's lottery unit to Singapore stock exchange will expose the company to a large pool of investors for non-shariah compliant stocks.
"Sports Toto Malaysia Trust will be mandated to only invest in gaming type businesses or investments," Berjaya Sports Toto said in a filing to the Malaysian stock exchange.
"It will also adopt a policy of distributing 100 percent of its surplus operating cashflow annually."
Maybank Investment Bank was appointed as the principal advisor for the listing, Berjaya Sports Toto said.
Berjaya Sports Toto dominates the number forecast business in mostly Muslim Malaysia along with Multi-Purpose Holdings .
Berjaya Sports Toto shares were up 2.4 percent in early trade, outperforming the broader market that inched up 0.3 percent. ($1 = 3.1995 Malaysian ringgit)
http://www.reuters.com/article/2012/06/06/berjayasports-idUSL3E8H601W20120606
Industry
Legal Resources
Regulator Links
WORLD LOTTERY WEBSITE LINKS
LOTTERY EXPO 2013
Co-Hosted by PGRI and the
Florida Lottery
November 4 to 7, Miami, Florida,
Trump Miami Beach Hotel
18001 Collins Ave., Sunny Isles Beach, Florida
Phone: Domestic: 855.244.2964 International: 786.522.3523
**Use Group Code 10W820 to get our
special rate
Monday, November 4: 5:00: Opening Night Reception
Tuesday, Nov. 5: U.S. focused conference sessions; Reception 5:00 to 6:30 pm.
Wednesday,Nov. 6: Joint U.S. and Latin America Sessions; Reception 5:00 to 6:30 pm.
Thursday, Nov. 7: Focus on Latin America
Three Receptions and luncheons provide lots of time to visit with colleagues For complete Lottery Expo info, including registration materials and conference updates: PublicGaming.org Conference Venue: Trump Miami Hotel - Limited special rate of $175 Reserve your room click here online booking
call us at 425-449-3000 if you get a "sold out" or encounter any difficulties at all
===================================================
SMART-TECH 2013
PLATINUM SPONSORS
SILVER SPONSORS
Thank you to all
of you who presented, served on a
panel discussion, and participated
at Smart-Tech. This was PGRI’s
fourth annual event in NYC and has
become a great venue for lotteries
to delve into the most relevant
issues of the hour, and we so
appreciate the privilege of hosting
it and visiting with you. The next
issue of PGRI Magazine will include
an in-depth analysis of the issues
we explored. Too, the conference
was video-recorded and will be made
freely available to everyone on
www.PGRItalks.com. We’ve
received much positive feedback and
hope that everyone accomplished
their objectives. Our next event
will be held at the Trump Miami
Beach Hotel on November 4, 5, 6, and
7th. Lottery Expo Miami
is especially exciting for the
participation from our colleagues in
Latin America. The North America
track is on Tuesday, the LatAm track
on Thursday, and we all come
together on Wednesday. Thanks to the
support of our commercial partners
and sponsors, the hosted receptions
held every night of the conference
have become a wonderful venue to
talk with industry leaders from all
around the world. Please check in at
www.PublicGaming.org for PGRI
conference updates. Thank you again
- We look forward to seeing you
again. Please e-mail me (pjason@publicgaming.com)
with any questions, feedback,
guidance, or comments of any kind.
Smart-Tech 2013 was held
April 8,
9, 10, 2013
at the Helmsley Park Lane,
New York.
Legal
Social Media
Europe
Financial
Responsible Gaming
Worldwide
Casino/Racino
Internet, Mobile
Political
Technology
Regulatory
OPINION
Paul's Wall
2012 Public Gaming Magazines
PUBLIC GAMING OCTOBER/NOVEMBER 2012
Click here to read the .pdf version
PUBLIC GAMING SEPTEMBER 2012
Click here to view the .pdf version
Click here to read the regular .pdf version
PUBLIC GAMING MAGAZINE MAY/JUNE 2012