KYROS KEBAB'S SHANGHAI OUTLET MARKED ITS FIRST FORAY INTO THE LUCRATIVE CHINA MARKET
KUALA LUMPUR: Even before the conditions of CAB Cakaran
Corp Bhd’s recent private placement agreement with him are met, Indonesian billionaire Anthoni Salim has already become a substantial shareholder of the integrated poultry farmer and Kyros Kebab restaurant franchise holder.
According to filings with Bursa Malaysia, Plant Wealth Holdings Ltd -- a company ultimately owned by Salim -- has bought a 6.69% stake in Cab Cakaran in off-market transactions within two days after signing a conditional share placement agreement to buy a 10% stake on Jan 18.
The 10.064 million shares were acquired on Jan 19 and 20.
If Cab Cakaran’s shareholders later approved the private placement, and other conditions of the placement agreement are met, Salim’s stake in the company will rise to 16.69%.
The placement shares were bought by Plant Wealth at a high premium. The issue price of RM2.07 represented 26.22% of Cab Cakaran’s five-day weighted average share price up to and including Jan 15.
Plant Wealth is owned by KMP Investments Pte Ltd, which in turn is wholly owned by Salim’s company KMP Private Ltd.
According to Forbes, the Salim family is Indonesia’s third richest family in 2015 with a net worth of US$5.4bil (RM23.77bil).
Cab Cakaran shares rose 7 sen to close at RM1.69 on Friday, with 1.7 million shares being traded.
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