PETALING JAYA: Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has ceased being a substantial shareholder in healthcare provider and pharmaceutical company Hovid Bhd.

In a filing with Bursa Malaysia yesterday, Hovid said the retirement fund had disposed of 3.34 million shares in the open market.

As at the fourth quarter of 2016, KWAP held 44.89 million shares or 5.3% in Hovid. The retirement fund emerged as a substantial shareholder in April 2015.

Shares of Hovid fell to a low of 28.5 sen earlier this month, as investor sentiment was hit by the Health Ministry’s move to repeal the manufacturing licences for both of the company’s facilities in Perak. Hovid closed 0.5 sen lower yesterday to 30 sen.

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