Vizione moves to woo institutional investors
Stephanie Jacob | 07 Sep 2018 00:30
After recording a strong set of results for its financial year ended May 31, 2018, Vizione Holdings Bhd is setting its sights on expanding its presence in the local construction industry and attracting larger investors to its counter.
Managing director Datuk Ng Aun Hooi says the company is particularly focusing on attracting fund houses to the construction and property player.
At the moment, individual investors form the bulk of its shareholders with a total of 34.6 % of its shares outstanding. Mutual fund investors form the second largest group of investors but hold a distant 2.2% of its shares.
The group took its first step towards this goal after it gained shareholders’ approval at its Sept 4 extraordinary general meeting for a share consolidation exercise, says Ng.
A near unanimous vote approved the management’s proposal to consolidate the current group share base. It will be on the basis of seven existing Vizione shares into one Vizione share. Ng tells FocusM that the share consolidation exercise serves several purposes.
One, he says, is that Vizione’s share base is over three billion which is “a bit too liquid,” adding that even with the consolidation the shareholding base will be still quite sizeable.
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