Muhammad Ikmal continues to up stake in Widad

Tan Sri Muhammad Ikmal Opat Abdullah has been increasing his stake in Widad Group.

KUALA LUMPUR: Tan Sri Muhammad Ikmal Opat Abdullah, who has been actively increasing his direct and indirect stakes in Widad Group Bhd, bought 5.3 million shares on Wednesday.

A filing with Bursa Malaysia on Thursday showed he acquired the shares from the open market.

This latest purchase saw his direct stake increase to 111.79 million shares or 4.55%.

He has an indirect stake of 1.58 billion shares or 59.85% which are held by his private company Widad Business Group Sdn Bhd.

StarBiz reported he recently bought an additional 2.5% via an off-market transaction that saw over 60 million shares acquired at a premium of 12.5%.

The shares were acquired then at 54 sen per share, which was higher by six sen or 12.5% over its closing price of 48 sen on June 23.

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