KUALA LUMPUR (Oct 14): Mr DIY Group (M) Bhd's (KL:MRDIY) largest shareholder, Bee Family Ltd, offloaded 71.7 million shares, representing a 0.76% stake in the home improvement retailer, for a total of RM149.37 million.

The transaction was carried out via a direct business deal on Monday, according to Mr DIY’s filing with the stock exchange.

Following the disposal, Bee Family’s stake in Mr DIY was reduced to 50.11% from 50.87% previously.

Bee Family is the investment vehicle of Mr DIY founder Tan Yu Yeh, who also holds 20 million direct shares, or a 0.21% stake in the group.

Other substantial shareholders in Mr DIY include the Employees Provident Fund, with a 6.89% stake, and Creador, holding 4.91% through Hyptis Ltd, according to Bloomberg data.

For the second quarter ended June 30, 2024 (2QFY2024), Mr DIY’s net profit rose 3.2% year-on-year (y-o-y) to RM155.21 million, while revenue increased 8.7% y-o-y to RM1.2 billion. For the six months ended June 30, the group posted a net profit of RM300.09 million on revenue of RM2.34 billion.

At Monday’s closing bell, Mr DIY’s share price slipped 0.92% to RM2.16, down from its two-year high of RM2.18 last Friday, valuing the company at RM20.61 billion. Year-to-date, the stock has risen over 48%.