Bintai Kinden's two biggest shareholders dispose of shares in the group

KUALA LUMPUR (Dec 21): The second largest shareholder of Bintai Kinden Corp Bhd, whose share price has seen a roller-coaster ride this year, has sold its entire stake of 50.03 million shares or 14.4% interest in the engineering and construction group.
Nusankota Development Sdn Bhd disposed of its stake in the open market on Dec 16, according to a filing with Bursa Malaysia.
Nusankota Development acquired the stake for RM10.01 million back in March 2017, through a share swap by way of allotment of shares for the acquisition of the entire 100% equity interest in Optimal Property Management Sdn Bhd by Bintai Kinden.
Assuming that Nusankota Development sold the 50.03 million shares at the Dec 16 closing price of 86 sen per share, the total selling price of the stake would be RM43.02 million.

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