KUALA LUMPUR (Sept 23): Fiamma Holdings Bhd (KL:FIAMMA) saw Casa Holdings Ltd cease to be its substantial shareholder after disposing of its entire stake in the electrical home appliance distributor.

In the bourse filing, Fiamma said Casa had disposed of 14.12% or 74.89 million shares in the company. However, the transaction price was not disclosed. The block of shares would have earned Casa over RM85.37 million based on Fiamma's closing price of RM1.14 on Sept 19.

Casa Holdings is a Singapore-listed electronic home appliance trading company.  

Casa’s founder Lim Soo Kong and Hu Zhong Huai have also ceased as substantial shareholders following the stake disposal in Fiamma, separate filings showed.  

Soo Kong’s son Stefan Matthieu Lim Shing Yuan is currently a non-independent executive director of Fiamma, according to Fiamma’s annual report.

Shares price of Fiamma closed up one sen or 0.9% to RM1.13, bringing the group a market capitalisation of RM599 million.