PETALING JAYA: Ekuiti Nasional Bhd (Ekuinas), the state-backed private equity (PE) firm, has sold its 100% stake in APIIT Group for RM725mil to APIIT’s management team and Singapore-based PE firm KV Asia Capital.
In a statement yesterday, Ekuinas said it had recouped its cost of investment and generated an internal rate of return of 22.3% with a multiple of 1.6 times the capital invested, including dividends.
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