Ni Hsin emerges substantial shareholder in Caely Holdings

KUALA LUMPUR: Ni Hsin Resources Bhd has emerged as a substantial shareholder in Caely Holdings Bhd with a 7.25% stake or 5.80 million shares for RM4.618mil.

A filing with Bursa showed Ni Hsin – which manufactures premium stainless steel cookware – had bought 1.85 million Caely shares – on Thursday..

Share prices of Caely Girl had risen from 84 sen on March 30 to a high of RM1.16 on April 3. 

It closed down 10 sen to RM1 on Friday in line with the weaker broader market.

In a separate statement, Ni Hsin said it had over 12 months acquired the Caely shares in the open market. 

The purchase consideration based on open market price ranged from 67 sen to RM1.08 per share.

Caely Girl manufactures undergarments, garment, leather goods, sportswear and household products. It is also involved in property development and construction segment.

It sells the products mainly to Europe, Canada, the US and other Asian countries. Majority of the revenue is generated from the manufacturing segment of the company.