KUALA LUMPUR (Jan 27): REDtone Digital Bhd (KL:REDTONE) has been mopping up more shares in Theta Edge Bhd’s (KL:THETA) since July last year, making it the second largest shareholder of the company.
REDtone, a company linked to Tan Sri Vincent Tan Chee Yioun of Berjaya Group, bought 7.44 million shares in Theta Edge via the open market for RM13.7 million or an average RM1.84 per share from July 12, 2024 to Jan 24, 2025, according to its statement filed with Bursa Malaysia on Monday.
“Following the acquisitions, REDtone now holds a total of 14.94 million Theta Edge shares representing 12.66% equity interest in Theta Edge,” REDtone said.
Theta Edge’s other substantial shareholders include Lembaga Tabung Haji with a 27.28% stake, and Threadstone Capital Sdn Bhd with 8.48%.
Threadstone is equally owned by Theta Edge director Zainal 'Abidin Abd Jalil and Haslinah Hassan.
Since early last year, Threadstone has been paring down stake in Theta Edge from 16.53% to the current 8.48%. Filings with Bursa showed that Threadstone had sold about 9.5 million shares or an 8.05% stake in Theta Edge.
Meanwhile, REDtone’s substantial shareholders comprise Tan of Berjaya with a 36.65% stake, and the King, Sultan Ibrahim Sultan Iskandar, with 17.34%.
Shares in REDtone ended one sen or 1.32% lower at 75 sen on Monday, valuing the company at RM586.84 million.
Meanwhile, Theta Edge shares closed two sen or 1.47% lower at RM1.34, giving the company a market capitalisation of RM158.08 million.