KUALA LUMPUR (June 26): Hibiscus Petroleum Bhd (KL:HIBISCS) saw the re-emergence of Mettiz Capital Sdn Bhd as a substantial shareholder.
Mettiz Capital, a vehicle of substantial shareholder Datuk Michael Tang Vee Mun, acquired a cumulative 5.699 million shares — 0.77% stake — between June 23 and 25, raising its stake in the bourse’s sole pure-play upstream oil and gas player to 5.495%.
Based on respective closing prices of the days the shares were acquired, the shares were valued at RM9.998 million.
The share purchases saw Tang’s indirect stake rise to 11.19%. He remains Hibiscus Petroleum’s largest shareholder.
Mettiz Capital previously ceased to be a substantial shareholder in April this year after it trimmed its stake to below the 5% threshold.
The other substantial shareholder of Hibiscus Petroleum is managing director Datuk Dr Kenneth Gerard Pereira with a total stake of 10.73%.
Shares of Hibiscus Petroleum ended one sen or 0.57% higher at RM1.76 on Friday, valuing the company at RM1.3 billion.