Citaglobal to sell 20% Manjaran stake to Berjaya Property for RM 50 million in shares
Bitget2026/10/26 09:59- Citaglobal agreed to sell its entire 20% stake in Manjaran to Berjaya Property for RM 50 million.
- Payment comprises 178,571,429 new Berjaya Property ordinary shares at RM 0.28 each, giving the seller a 3.39% stake.
- The deal values Manjaran at RM 250 million, a 25% uplift over its acquisition valuation; estimated disposal gain is RM 13.39 million.
- The group may remain involved in the Perlis Maritime Corridor as an engineering, procurement, construction and commissioning contractor without further equity contributions.
- The agreement, dated October 26, 2026, targets completion by year-end, conditional on Berjaya Property completing its Manjaran subscription.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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