The shares were sold in the open market, Serba Dinamik said in a stock exchange filing.
A back-of-the-envelope calculation shows that the latest transaction leaves EPF with 185.08 million Serba Dinamik shares or just under 5% in the group.
EPF is the second institutional fund to cease as a substantial shareholder in Serba Dinamik. On June 1, Kumpulan Wang Persaraan (KWAP) disposed of 26.03 million shares to reduce its stake to 4.53%, from 5.24% previously.
EPF, which held over 10% in Serba Dinamik previously, started paring its stake after the group notified Bursa Malaysia of certain audit issues raised by former external auditor KPMG involving bills and transactions worth over RM4 billion.
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KUALA LUMPUR (June 29): Serba Dinamik Holdings Bhd was trading higher and the top most active counter this morning following news that Ernst & Young Consulting Sdn Bhd (EY) had accepted the company’s offer to be its independent reviewer with additional conditions attached.
Shares in Serba Dinamik opened higher at 37 sen apiece, compared with the previous day’s close at 32.5 sen.
The stock then fell to a low of 34 sen and recovered to trade at 38 sen at the time of writing today. At 38 sen, the stock was trading 5.5 sen or 16.92% higher, with a market capitalisation of RM1.2 billion.
From a volume perspective, Serba Dinamik shares were the most actively traded on the local bourse at the time of writing, with 375 million units done.