KUALA LUMPUR: Tycoon Tan Sri Vincent Tan has sold RM115mil (US$29mil) worth of shares in conglomerate Berjaya Corp
Bhd, extending a series of disposals that have reduced his holding in the company to about 15%.
In a filing with Bursa Malaysia on Wednesday, the Berjaya founder offloaded 461.65 million shares through seven transactions on May 28, cutting his direct stake to 4.1% and his deemed interest to about 11%.
Berjaya shares closed at 24.5 sen on the day of the trades and were unchanged yesterday.
The shares were sold through nominee accounts including Alliancegroup Nominees (Tempatan) Sdn Bhd, MBSB Investment Nominees (Tempatan) Sdn Bhd and CGS International Nominees Malaysia (Tempatan) Sdn Bhd.
The latest transactions reduced Tan’s total interest in Berjaya from roughly 23% previously, based on the company’s 5.9 billion outstanding shares and Bloomberg calculations.
Separate filings also showed Tan is no longer a substantial shareholder in six listed companies, including Salcon Bhd, Redtone Digital Bhd and Sports Toto Bhd, after his deemed interests through Berjaya were reduced.
The tycoon, however, remains a substantial shareholder in 7-Eleven Malaysia Holdings Bhd, Berjaya Food Bhd and Berjaya Assets Bhd, albeit with smaller holdings.
The move marks the latest in a series of disposals by Tan after an earlier sale of a 5.25% stake in Berjaya in March.
Bloomberg previously reported that he is considering selling his remaining 30% stake in Prudential Assurance Malaysia Bhd after disposing of a 19% holding earlier this year. — Bloomberg
