KUALA LUMPUR, May 25 — Bursa Malaysia Bhd has disposed of 50,000 ordinary shares of CME Group Inc Class A common stock for a total gross cash sum of US$10.86 million (RM44.94 million) on the Nasdaq Stock Market since March 8.
Announcing this on its portal, the stock exchange operator said it would use the proceeds to fund its initiatives to ensure continuous development to the ecosystem and infrastructure of the exchange.
Following the disposal, Bursa Malaysia is left with 140,250 shares in CME Group, a United States-headquartered derivatives exchange operator.
Bursa Malaysia initially acquired the CME shares in 2009 as a result from a prior corporate exercise between Bursa Malaysia, CME Group Inc and CME Group Strategic Investment LLC.
“Bursa Malaysia has maintained the CME shares acquired as part of its investment securities to fund a put option that was exercised in 2019.
“Given the completion of the put option exercise on Dec 6, 2019, Bursa Malaysia has decided to dispose the balance of the remaining shares to capitalise on the appreciating share price of CME Group,” it said.
The original cost of investment for the disposed CME Group shares was US$3.28 million (RM13.59 million). — Bernama
