Berjaya Corp may place out shares in Berjaya Food, exercise warrants

PETALING JAYA: Berjaya Corp Bhd (BCorp) is looking to place out a block of shares in its 51%-owned Berjaya Food Bhd (BFood) at between RM3 and RM3.30 apiece to raise cash for its major shareholders and create liquidity in the stock, sources said.

The group will, however, retain a controlling interest in BFood, whose shares surged in July after it inked a deal to buy all of Berjaya Coffee Co Sdn Bhd (BStarbucks), the local franchise of the global coffee chain Starbucks, from its Seattle-based parent, Starbucks Coffee International Inc.