YTL completes Malaysia's first placement of treasury shares

The construction and infrastructure play raises $101 million amid improving sentiment for Malaysian stocks. Deal rounds off busy week for UBS.

Malaysian construction and infrastructure development company YTL Corp has raised $101 million from the countryÆs first ever overnight sale of treasury shares in a move to strengthen its finances so that it will have the flexibility to participate in the governmentÆs development programme as opportunities arise.

The sale, which took place after the market closed on Friday January 19, comprised 50 million treasury shares which were sold at M$7.10 apiece. The price represented a 5.3% discount to FridayÆs closing...

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