Censof sells 43 million shares in DNeX due to margin call

KUALA LUMPUR: Censof Holdings Bhd said it has disposed 43 million shares in associate firm Dagang Nexchange Bhd (DNeX) in the open market due to margin call.

Censof, in a filing with Bursa Malaysia today, said the forced selling action on Tuesday by MIDF had raised RM3.92mil for the company.

The original cost of the investment was RM8.76mil.

Proceeds from the disposal, Censof said, will be used to reduce its share margin loan.

The disposal reduced Censof's stake in DNeX by 2.45% to 13.2%, or 232 million shares.