KUALA LUMPUR (Feb 19): ITMAX System Bhd’s (KL:ITMAX) non-independent executive director Datin Afinaliza Zainal Abidin has disposed of her remaining 4.58% stake in the smart city integrated system solution provider, for RM174.41 million.

She sold 46 million shares on Tuesday and 1.14 million shares on Wednesday in off-market transactions via her vehicle Ganda Sensasi Sdn Bhd, according to ITMAX’s bourse filing.

The shares were offloaded at RM3.70 apiece, or an aggregate RM174.41 million. The disposal price is at a discount of 8.4% against ITMAX's closing share price of RM4.04 on Tuesday, and a 5.6% discount against RM3.92 on Wednesday.

In September last year, Afinaliza disposed of 61.86 million shares or a 6.01% stake in ITMAX for RM201.1 million.

ITMAX’s substantial shareholders comprise its non-executive director Tan Sri Tan Boon Hock, along with his son, managing director and chief executive officer William Tan Wei Lun, with a 53.26% stake via vehicle Sena Holdings Sdn Bhd.  

Afinaliza was one of the promoters of ITMAX’s listing exercise. When the company listed on Bursa Malaysia’s Main Market at RM1.07 per share in December 2022, she controlled a 17.58% stake.

Shares in ITMAX ended 12 sen or 2.97% lower at RM3.92, valuing the company at RM4.04 billion.

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