Urusharta trims equity in Eversendai

PETALING JAYA: Urusharta Jamaah Sdn Bhd, a wholly-owned unit of Minister of Finance Inc, has ceased to be a substantial shareholder of Eversendai Corp Bhd, barely a day after the stock surged by 90% last Wednesday.

Eversendai informed the stock exchange yesterday that Urusharta has sold 10 million shares on March 14. Prior to the sale, Urusharta owned about 40.29 million shares or a direct stake of 5.16%.

It is noteworthy that the Eversendai stock surged by 90% to 39 sen on March 13, following the news about its subsidiaries in Saudi Arabia, United Arab Emirates and India securing new projects worth RM5.4bil.