GuocoLand raises stakes in Malaysian unit to 65%

The total cash consideration was $12,250.

GuocoLand Limited announced that its wholly-owned subsidiary, GLL (Malaysia) Pte. Ltd. (GLLM) has acquired 33,400 ordinary shares in GuocoLand (Malaysia) Berhad (GLM) by way of open market purchases, for an aggregate cash consideration of MYR 38,306.46 (S$12,250.3).

Following the acquisition, the company’s deemed interest in GLM held through GLLM, has increased from 455,173,880 ordinary shares, representing approximately 64.9823% of the shareholding in GLM, to 455,207,280 ordinary shares, representing approximately 64.9870% of the shareholding in GLM.

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