KUALA LUMPUR: Pelaburan Mara Bhd has disposed of a 14.73% stake in PDZ Bhd to Megalink Industries Sdn Bhd.
PDZ said Pelaburan Mara had on Monday signed a share sale agreement with Megalink to sell the stake, comprising of 128.02 million shares.
“Post-completion of the agreement, the major shareholder’s stake in the company will be reduced to 128.02 million ordinary shares representing approximately 14.73% and the company will see the emergence of Megalink as a substantial shareholder of the company with a 14.73% stake,” said PDZ.
At midday, PDZ was up 1.5 sen to 35.5 sen. There were 211.43 million shares done at prices ranging from 33 sen to 36 sen.
On Aug 11, Pelaburan Mara disposed of five million PDZ shares at 22.5 sen each and reduced its stake to 256.048 million shares.
Source: The Star, 8 Sept 2014
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