Mainstream
Yong Tai clears air on shareholding
Lim Cian Yai | 16 Jun 2017 00:30
Yong Tai Bhd’s recent shareholding change has raised questions about the new major shareholder’s identity and rationale for the transaction.

On May 19, a 24.6% stake in the company worth RM117.7 mil changed hands to Full Winning Developments Ltd. 

The transaction, valued at RM1.10 per share, was at a 26.7% discount to the closing price of RM1.50 on that day.

The stake was sold by Impression Culture Asia Ltd, which emerged as a substantial shareholder of Yong Tai with a 48.33% stake via a special issue of 150 million shares at 80 sen each in November.

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