KUALA LUMPUR (Feb 7): M&A Equity Holdings Bhd said Siti Nur Aishah Ishak has ceased to be a substantial shareholder of the stock broking firm after she disposed of a 1.75% stake in the company for RM12.6 million.

According to a bourse filing on Wednesday, Siti Nur Aishah sold the staake comprising 35 million shares on Tuesday.

A check with Bloomberg showed that two blocks of shares, totalling 35 million shares, were traded on Tuesday at 36 apiece or a cumulative RM12.6 million.

Siti Nur Aishah's stake in M & A after the disposal stands at 4.57% — below the 5% threshold required for the substantial shareholding status.

She had emerged as a substantial shareholder with a 5.08% stake on Dec 18 last year.

With her status as a substantial shareholder ceasing, M&A Equity’s sole substantial shareholder is the company's largest shareholder Datuk Seri Thong Kok Khee, who controls a 55.82% stake via Insas Bhd.

Thong controls an 11.19% stake in Insas via Perak Traders Holdings Sdn Bhd and Baktihan Sdn Bhd.  

Shares in M&A Equity ended half a sen or 1.33% at 38 sen on Wednesday, valuing the company at RM751.48 million.