Soh emerges as substantial shareholder of Kelington

TheEdge Fri, Jul 05, 2019 10:50am - 4 years View Original


KUALA LUMPUR: Soh Tong Hwa has emerged as a substantial shareholder of Kelington Group Bhd, after he acquired a 20% stake in Kelington’s largest shareholder Palace Star Sdn Bhd.

In a filing with Bursa Malaysia yesterday, Kelington, which provides ultra high purity gas delivery solutions, said Soh acquired the stake in Palace Star last Friday.

After the acquisition, Soh has an indirect stake of 27.64% in Kelington, comprising 84.79 million shares, Kelington said.

Soh also has a 0.133% direct stake comprising 407,000 shares in Kelington, the filing showed.

According to Kelington’s latest annual report, Palace Star is the largest shareholder of Kelington, with a 30.23% stake, comprising 86.79 million shares as at March 22, 2019.

Kelington shares closed unchanged at RM1.26 yesterday, giving it a market capitalisation of RM386.42 million. The stock has climbed over 52% in the past one year.

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