Markets
SGB-WA conversion discount widens
Alan Voon | 02 Feb 2018 00:30
The share price of Spring Gallery Bhd was limit-up at RM1.10 on Jan 29 after the company announced that it has accepted a letter of intent (LoI) from Village Roadshow Theme Parks Pty Ltd (VRS) for the proposed development and operation of a theme park in Klebang, Melaka.

The theme park is to be built on nine pieces of land collectively measuring about 292,795 sq m.

At the same time, Spring Gallery also announced that it has offered to purchase several pieces of land in Klebang with a total land area of about 4.4 million sq ft for RM186.63 mil from Benelac Holdings Bhd.

The offer to buy land is conditional upon Spring Gallery entering into a definite agreement to develop and operate the abovementioned theme park. Spring Gallery’s mother share closed at RM1.11 on the last trading day of January while its warrant SGB-WA settled at 33 sen.