Major shareholder of A&M Realty hiving off shares to institutional investors?

A & M Realty berhad chairman Datuk Ng Thian Hock (right) with his son Steven Ng. - Filepic THE STAR/Zubir Yahya.

PETALING JAYA: The major shareholder of A&M Realty Bhd is likely to place out up to 6% of the company to institutional shareholders to loosen the liquidity of the property developer.

Sources said executive chairman Datuk Ng Thian Hock and his private vehicle Dalta Industries Sdn Bhd will place out 20 million shares and a further 10 million at between RM1.20 and RM1.25 to funds. At RM1.20, the total placement shares will raise between RM24mil and RM36mil.