KUALA LUMPUR (Feb 4): Forever Famous Sdn Bhd, which emerged as the largest shareholder of Sersol Bhd (KL:SERSOL) just three weeks ago, has disposed of its entire 13.67% stake in the coating solutions company.
According to bourse filings on Tuesday, Forever Famous sold the stake comprising 100 million shares at 0.5 sen apiece in an off-market trade on Monday.
Based on Sersol's closing price of seven sen on Monday, the sale was a discount of 92.9%. However, the purchaser was not disclosed.
Forever Famous is a private vehicle controlled by Sersol's executive director Datuk Mohamed Suffian Awang, who was appointed to the post in August 2023.
Mohamed Suffian is a former independent non-executive director of FGV Holdings Bhd (KL:FGV), then known as Felda Global Ventures Bhd. He is also a former political secretary to former prime minister Datuk Seri Najib Razak.
Forever Famous emerged as the largest shareholder in Sersol on Jan 14 after it acquired 90 million shares, a 12.3% stake, from Hillcove Sdn Bhd, the previous largest shareholder, at an undisclosed price.
At Tuesday's market close, Sersol shares were down 0.5 sen or 7.14% at 6.5 sen, valuing the company at RM47.54 million.
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