MUHAMMAD Ikmal Opat Abdullah now owns 72% of Widad Group Bhd (WGB) after acquiring a 7.5% stake in the construction and facilities management group.
In his personal capacity and through private entity Widad Business Group Sdn Bhd, Muhammad Ikmal mopped up 186,051,000 shares through open-market and off-market transactions on July 16 and 17.
In a filing with Bursa Malaysia last Friday, Muhammad Ikmal had on July 16 acquired 6,501,000 shares or 0.246% stake from the open market and an off-market transaction.
Another bourse filing showed Muhammad Ikmal purchasing another block of shares totalling 180,000,000 units or 7.333% stake via his private entity Widad Business Group Sdn Bhd on July 17. The transaction was done off-market.
These purchases were followed by an acquisition on June 22, where he purchased a total of 60,607,000 shares or a 2.5% stake in WGB to increase his total stake in the listed entity to 64.20%.
Muhammad Ikmal now stood to have a direct and indirect shareholding of 4.801% and 67.191% respectively in WGB, which makes up a total stareholding of 71.992%.
He is also the founder, group executive chairman and group leader of Widad Business Group of which WGB is the wholly owned listed vehicle. – July 20, 2020
