KUALA LUMPUR (Dec 16): Kumpulan Kenderaan Malaysia Bhd (KKM) has ceased to be a substantial shareholder of Konsortium Transnasional Bhd, after selling 20 million shares, which is equivalent to a 4.96% stake, in the bus operator.
The shares were sold on Monday (Dec 14), according to Konsortium Transnasional s stock exchange filing. However, Konsortium Transnasional did not disclose the transaction price. The company s share price settled at 17 sen on Dec 14, which would value the lot it sold at an estimated RM3.4 million.
Post-divestment, KKM is left with 9.31 million shares or 2.31% in Konsortium Transnasional. KKM emerged as Konsortium Transnasional s substantial shareholder on Sept 25, 2003, after buying 13.8 million shares or an 18.9% stake in the company. This stake was subsequently raised to 29.45% in June 2015, before it was trimmed.
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