KUALA LUMPUR (Sept 8): Khazanah Nasional Bhd has disposed of a 4.62% stake in ACE Market-listed TT Vision Holdings Bhd for RM25.92 million.
According to a bourse filing on Friday, the sovereign fund sold a 1.41% stake or 6.6 million shares on Wednesday, and a 3.21% stake or 15 million shares on Tuesday.
The shares were sold in direct business transactions via Malaysian Technology Development Corp Sdn Bhd.
This pared Khazanah Nasional's stake in the Penang-based automated test equipment (ATE) maker to 18.86% or 88.26 million shares.
A check with Bloomberg showed that the shares were sold at RM1.20 per share — RM25.92 million for the 21.6 million shares or 4.62% stake.
The RM1.20 disposal price is 252.94% higher than TT Vision’s initial public offering price of 34 sen in January.
Besides Khazanah Nasional, TT Vision’s other substantial shareholders are Goon Koon Yin and Wong Yih Hsow, who each own a 23.99% stake in the company.
Shares in TT Vision ended unchanged at RM1.23, giving the company a market capitalisation of RM575.64 million. Compared to its IPO price of 34 sen, the counter is up 261.77%.