KUALA LUMPUR (April 21): The Employees Provident Fund (EPF) is no longer a substantial shareholder of Sunway Healthcare Holdings Bhd (KL:SUNMED) after reducing its stake to 4.99%.
In a filing, the company said the EPF sold one million shares on April 16 for about RM1.83 million. After the sale, the EPF holds about 574.97 million shares in the company.
The EPF emerged as a substantial shareholder on March 18, the listing date for Sunway Healthcare, with a 5.13% stake after acquiring 62.971 million shares by distribution of dividend-in-specie, 499.808 million shares during the IPO, and another 34.605 million shares before disposing of 7.57 million shares.
The EPF was one of 20 cornerstone investors of the IPO, which was the largest in Malaysia in nine years.
Sunway Healthcare shares closed flat at RM1.93 on Tuesday, giving it a market value of RM22.2 billion. The stock had earlier peaked at RM2.73, implying a price-earnings ratio of over 100 times shortly after listing, before easing. Since the debut on March 18, the shares are up 4.32%.