EPF or PNB likely to be seller of MISC shares

“Although transacted at a discount on market value, the seller is likely doing it to realise profits to pay dividends to its members, ” the source told StarBiz, noting that both the EPF and PNB could only pay out dividends to their members from realised returns

PETALING JAYA: The seller of the block of 70 million shares in MISC Bhd that had been transacted below market value in a placement deal recently is believed to be either the Employees Provident Fund (EPF) or Permodalan Nasional Bhd (PNB), according to sources.

The transaction is expected to benefit members of the vendor, one source said, as the likely objective of selling the block of shares in MISC is to lock in gains to be redistributed as dividends to its members.