KUALA LUMPUR (Sept 19): Cypark Resources Bhd has reported the emergence of a new substantial shareholder, Chung Dao, with a 5.5% stake or 42.97 million shares after acquiring 40 million shares on Sept 14.
The acquisition happened on the same day Chung Chee Yang ceased to be a substantial shareholder following the disposal of 40 million shares, leaving him with 37.43 million shares or a 4.77% stake in the renewable energy and solid waste management company.
Based on the closing price of 79.5 sen that day, the transaction would be worth some RM31.8 million.
Prior to this, Chee Yang had once transferred 2.77 million shares to Chung Dao in June this year, according to Cypark’s stock exchange filings.
The stock has embarked on a steep climb since Chee Yang’s disposal, rallying 19.5% over the past three trading days.
Cypark’s shares closed 3.5 sen or 3.8% higher at 95 sen on Tuesday, giving the company a market capitalisation of RM746.63 million.