KUALA LUMPUR (March 30): Yong Tai Bhd’s largest shareholder, Hong Kong-listed Impression Culture Asia Ltd, has pared down its controlling stake in the company to 28.73% after disposing of 25 million shares or a 5.75% stake in off market trades.
The shares were sold at RM1.10 each in two separate transactions to Yong Tai’s CEO Datuk Wira Boo Kuang Loon and executive director Dato Sri Lee Ee Hoe, according to the group’s filings with Bursa Malaysia today.
Boo acquired 12.2 million shares, increasing his stake by 2.81% to 13.53%, while Lee bought 12.8 million shares, increasing his total interest by 2.94% to 8.64%.
The shares were crossed at RM1.10 per share on March 27, at a discount of 34 sen or 23.6% to the day’s closing price of RM1.44.
Shares in Yong Tai closed up 2.08% or 3 sen at RM1.47 today, giving it a market capitalisation of RM639.66 million. The counter saw 4.35 million shares traded. — theedgemarkets.com