KUALA LUMPUR--Berjaya Sports Toto Bhd (1562.KU), a Malaysian lottery operator, said late Tuesday it plans to list its unit Sports Toto Malaysia Sdn Bhd in Singapore as a business trust by the fourth quarter this year.
The plan calls for a transfer of its entire stake in Sports Toto Malaysia to a business trust known as Sports Toto Malaysia Trust for 6.0 billion ringgits ($1.88 billion), according to a statement to the Malaysian stock exchange. The trust will then list up to 4.89 billion shares on the Singapore stock exchange, it said. Full story
