Reduce stake in fund, icapital.biz tells UK-based CLIM


KUALA LUMPUR: The board of directors of closed-end fund icapital.biz Bhd has told City of London Investment Management Company Ltd (CLIM) to reduce the latter's stake in the company.

In a statement to Bursa Malaysia on Friday, icapital.biz said CLIM had on Sept 30 and Oct 16 bought 159,500 shares and 95,500 shares, respectively, in the fund through DB (Malaysia) Nominee (Asing) Sdn Bhd.

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