KUALA LUMPUR: Insas Bhd
’s wholly-owned units, Insas Plaza Sdn Bhd and Insas Technology Bhd, have disposed of 100 million shares in its associated company, Inari Amertron Bhd, for RM186mil in cash on Tuesday.
Insas said proceeds from the disposals will be utilised for the group’s working capital requirements and repayment of bank borrowings, amounting to RM80mil.
“The disposals (also) allow the group to realise capital gains and monetise part of its investment in Inari,” it said in a filing with Bursa Malaysia yesterday.
According to Insas, whose principal businesses include stockbroking as well as investment holding and trading, the disposals and aggregate transactions are expected to result in a gain on disposal of about RM84mil and RM120mil, respectively, in the financial year ending June 30, 2026.
It added that the disposal consideration of RM186mil, or RM1.86 per Inari share, was arrived at through negotiation on a willing-seller, willing-buyer basis.
“It represents a discount of three sen or 1.59% over the last closing price of RM1.89 as at May 18, 2026, and a discount of 1.5 sen or 0.77% over the volume weighted average price of RM1.8745 as at May 18, 2026,” it said. — Bernama
